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AUD/USD has climbed 9 pips and last deals....>

AUSSIE: AUD/USD has climbed 9 pips and last deals at $0.7029, supported by
risk-on flows inspired by the U.S.-China trade truce from over the weekend.
- Australian AiG m'fing PMI moved into contractionary territory, printing at
49.4 vs. the prior 52.7. Analogical reading from CBA (f) is exp. at the top of
the hour, ahead of CoreLogic House Price Index & Melbourne Institute Inflation,
also due today.
- Later this week, RBA will deliver its MonPol decision on Tuesday, while Gov
Lowe will speak the same day at RBA board dinner with biz. community in Darwin.
Australian building approvals and trade balance are due on Wednesday, while
retail sales & job vacancies are due on Thursday.
- On the technical front, bulls would be pleased by a rally through the 100-DMA
and cloud top, both located at $0.7036, which has limited gains thus far. Above
opens the upper Bollinger band (2%) at $0.7045. Bears target the 50% retracement
of the YtD range at $0.7018, ahead of the upper 1.0% 10-DMA envelope, situated a
further 9 pips below.

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