AUD/USD has inched higher with S&P saying....>

AUSSIE: AUD/USD has inched higher with S&P saying that the "bushfires raging

across Australia pose no immediate risk to the country's pristine 'AAA'

sovereign rating." The pair trades flat at $0.6902 as a result after it eased

off a tad early on, with BBG citing option-related AUD/USD sales.

- Ratings may be immune to the bushfires, but PM Morrison's personal approval

ratings are not. A Newspoll survey showed his support tumble 8pp since December,

with the ruling Liberal-National coalition losing its lead in the polls.

- That being said, AUD/USD added 43 pips Friday, its jump reminiscent of short

covering. Admittedly, the Asia-Pac session saw a decent beat in the local retail

sales print, but the resulting uptick was promptly faded on the back of

realisation that the number was affected by Black Friday sales. 

- A break above Friday's high of $0.6911 would see bull remain in the driving

seat, shifting the focus to the Jan 7 high of $0.6943. Bears look for a pullback

below the $0.6892 200-DMA, towards the 50-DMA at $0.6868.

- Melbourne Institute Inflation comes out at the top of the hour, Aussie housing

finance data is due on Thursday.