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AUSSIE: AUD/USD last deals at $0.7049, unch. on the day, with Australian AiG
m'fing PMI coming up at the bottom of the hour. Final CBA m'fing PMI will follow
at the top of the hour, ahead of CoreLogic House Price Index, due an hour later.
- Tuesday's Asia-Pac trade saw the rate slide on the back of softer than exp.
official PMI data from China, before AUD/USD extended losses to a fresh session
low on a disappointing Chinese Caixin m'fing PMI print.
- The pair recovered in the London morning, having a look above the opening
levels, thanks to softening USD, but faded into the London fix, touching the
intraday low of $0.7031.
- Although the rate erased most of its losses subsequently, it finished the day
8 pips worse off, with AUD sitting at the bottom of the G10 pile.
- A downside breach of the 100-HMA at $0.7037 would open up the lower 1.0%
10-DMA envelope, located at $0.7019. Conversely, $0.7061, where the rate peaked
on Apr 26 & 29. Above here would expose yesterday's high of $0.7069, touched in
the run-up to the release of Chinese official PMI figures.
- Later in the week, Australian building approvals come out on Friday.