AUD/USD last $0.7223, 15 pips higher on......>

AUSSIE: AUD/USD last $0.7223, 15 pips higher on the day. The pair moved lower

initially, as matters surrounding Huawei CFO's arrest weighed on broader risk

assets, as did a soft breakdown in China's latest trade data release, but the

rate has recovered since, reclaiming the $0.7200 level, as the greenback

struggled overnight, with U.S. equity futures under pressure. 

- Elsewhere, RBA's Kent noted that the AU econ is making some progress on

unemployment and inflation but highlighted that it is gradual. Kent also

reiterated that the next move in the cash rate is likely up but didn't rule out

a cut if warranted. Kent also noted that there is a risk that bank credit supply

tightens unnecessarily and seemed worried that banks have tightened loans to

small firms. 

- Initial resistance noted at the 100-DMA at $0.7235, followed by the Dec 6 high

at $0.7274, while bears eye the 50-DMA at $0.7185 before targeting the Nov 13

lows f $0.7164. 

- Focus this week will fall on the broader risk appetite & NAB biz. conf. data.

Also worth noting house price data is due tomorrow.