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AUD/USD has drawn support from the much......>

AUSSIE
AUSSIE: AUD/USD has drawn support from the much wider than exp. AU trade
surplus, broad risk on flows centring on Brexit matters, a stronger than
expected PBOC CNY fix, a marginal beat for the latest China Caixin manufacturing
PMI & a broader pullback in the USD after yesterday's month-end/SOMA flow, with
local dividend/shareholder compensation plans also touted as AUD positive.
- Rate last deals at $0.7124 after registering a high of $0.7133, seemingly
driven by momentum type accounts, as it breached the October 30 high ($0.7122)
and the October 22 high/Fib resistance ($0.7127) during Asia trade, with bulls
looking for a move back towards session highs, before ultimately targeting the
October 17 high ($0.7160) to open up a move to $0.7200.
- Domestic focus on tomorrow's AU retail sales data ahead of next week's RBA
MonPol decision/SoMP.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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