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AUSSIE
AUSSIE: AUD/USD last deals at $0.6878 after dropping 30 pips overnight, as the
RBA's shift to an easing bias more than offset the earlier positive impact of
APRA's proposal to loosen mortgage lending conditions.
- AUD took a hit from RBA Gov Lowe's remark that RBA members "will consider the
case for lower interest rates" at the next MonPol meeting. In the subsequent Q&A
session Lowe admitted that it is "fair enough" to say that the RBA has adopted
an easing bias. 
- Lowe's comments came after the minutes from the central bank's latest MonPol
meeting noted that a rate cut would be appropriate in case of no further
improvement in the labour market.
- Bears look to the 76.4% fibo retracement of the year's range at $0.6872. A
breach of the figure would expose the lower 1.0% 10-DMA envelope at $0.6865,
where the rate bottomed on May 17. Above $0.6900 would shift bullish focus to
the 200-HMA/downtrend resistance at $0.6939/40.
- Australian skilled vacancies data, due tomorrow, may provide some interest, as
the RBA rhetoric draws attention to labour market developments. 

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