AUD/USD is steady at the psychological.......>

AUSSIE: AUD/USD is steady at the psychological $0.7000 level at typing, ahead of

local data releases. Australian services PMI readings from AiG & CBA (f), as

well as building permits, are due later today.

- The cross edged higher in Thursday's Asia-Pac session and remained modestly

elevated in the London morning, testing $0.7030 several times, as a CNBC report

suggesting that the U.S. and China are nearing a trade deal aided AUD.

- However, fresh AUD/USD sales emerged in the London afternoon into the WMR fix,

with the move likely accelerated by a report from China's Global Times, which

poured some cold water on enthusiasm re: Sino-U.S. trade talks. AUD/USD tested

the water below $0.7000 as a result, and finished 15 pips lower on the day.

- Worth noting the piece by Global Times hit the wires after White House

spokeswoman Sanders said that the prospect of U.S. and Chinese presidents

meeting to sign off on a trade deal is likely, but decision will be made after

another round of negotiations, due next week.

- Bears continue to target the Apr 25 low of $0.6988, the worst level post-Jan 3

flash crash, while bulls look to the aforementioned $0.7030 level.