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AUD/USD last at $0.6770, slightly better.....>

AUSSIE
AUSSIE: AUD/USD last at $0.6770, slightly better off. The pair traded a touch
higher in early indicative trade after China clarified that its decision to pull
out from a planned visit to U.S. farm states had nothing to do w/trade talks.
- CBA will publish their flash PMI survey for Australia later today. Skilled
vacancies (Wednesday) and job vacancies (Thursday) will follow later in the
week. Also on the radar is Tuesday's speech from RBA Governor Lowe.
- The pair finished last week on the back foot, falling 27 pips Friday. Selling
pressure emerged in the Asia-Pac trade as Citi and NAB brought their RBA easing
calls forward, with further losses prevented by yuan strength. Subsequent
recovery failed to bring the clearance of $0.6810 and the pair faltered again as
USD regained poise.
- Last week's sell-off damaged the outlook, prompting bears to look for a break
under $0.6737, the 76.4% retracement of the Sep 3-Sep 12 rally. Bulls target the
psychological $0.6800 barrier. Above there would expose the $0.6831-33 zone,
which hosts last Thursday's high, the 38.2% retracement of the Jul 19-Aug 7
slide and the 50-DMA.
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