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AUSSIE: AUD/USD has stuck to a narrow ~20 pip range thus far, last sitting
around best levels at $0.7240, a handful of pips higher on the day.
- After dwindling optimism re: China-U.S. trade matters was evident Thursday,
the latest round of comments from U.S. President Trump and China's MOFCOM seem
to point to optimism regarding the matter, in spite of the detention of a Huawei
executive in Canada, with the U.S. seeking her extradition.
- Up trendline support from the Oct lows has given way, with bears targeting the
$0.7200 level ahead of the 50-DMA at $0.7185. Bulls ultimately need to clear
$0.7400, with more immediate resistance noted at yesterday's intraday high of
- Also worth highlighting a wide swathe of AUD/USD FX option expiries at today's
10:00 NY cut: $0.7250 (A$4.44bn), $0.7260 (A$1.59bn), $0.7300 (A$1.16bn),
$0.7350 (A$1.5bn), $0.7360 (A$1.05bn), $0.7400 (A$1.08bn).
- NAB biz conf & house price data dominate the Australian economic docket next
week, with RBA's Kent due to speak Monday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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