AUD/USD has garnered some strength on the....>

AUSSIE: AUD/USD has garnered some strength on the back of WSJ & BBG reports that

Washington and Beijing are nearing a trade deal, which could result in scrapping

"most or all" U.S. tariffs, if China meets certain requirements, including

structural reforms. U.S. Pres Trump's complaint of USD being too strong also

helped the move higher. The rate last trades at $0.7103, 25 pips better off.

- On Friday, AUD/USD finished 15 pips lower, as a data-heavy Asia-Pac session

saw the pair return to almost unch. levels, the USD was pressured on the back of

weaker than exp. ISM, U. of Mich. sentiment & Markit m'fing PMI, but still

bounced to the top of the G10 pile, supported by stronger U.S. Tsy yields.

- Bulls look to last Monday's low of $0.7125, ahead of the 55-DMA/50-DMA at

$0.7131/32. Conversely, bears look for a breach of the Feb 22 low of $0.7083,

followed $0.7071, which represents the cloud top.

- AU focus today turns to Melbourne Inst. inflation, building approvals and Q4

GDP partials (inventories & company operating profits). Elsewhere, this week's

AU docket is headlined by RBA MonPol decision due Tues, as well as the Q4 GDP

print and a presser from RBA Gov Lowe due Weds.