AUD/USD has shed 5 pips and last sits at.....>

AUSSIE: AUD/USD has shed 5 pips and last sits at $0.6799. The rate remains

limited by U.S.-China tensions over the HK bill passed by the House of

Representatives in the NY/Asia crossover, as well as the most recent round of

U.S. Pres Trump's criticism of China's attitude in trade talks with the U.S. BBG

reported that the POTUS will likely sign the contentious HK bill into law.

- The bill already sparked frictions when it was passed by U.S. Senate y'day,

drawing ire from the authorities in Beijing and inspiring a sell-off in AUD/USD.

A RTRS report suggesting that U.S.-China negotiations on their phase-one trade

pact may drag on into next year added further weight later in the day.

- On the downside, focus is on the low of Nov 14 & 61.8% retracement of the Oct

rally at $0.6770, with potential break opening up the 76.4% retracement of that

rally at $0.6732. Bulls look for a jump above the 50-DMA at $0.6813, towards the

38.2% retracement of the Oct bull mkt & yesterday's peak/100-DMA at $0.6831/34.

- Aussie PM Morrison defended his budget surplus goal amid long-term headwinds.

- Little left on the Australian docket this week, flash CBA PMIs will be

released tomorrow.