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AUD/USD last deals at $0.7058, 16 pips.......>

AUSSIE
AUSSIE: AUD/USD last deals at $0.7058, 16 pips higher on the day, with BBG
sources pointing to month-end AUD demand from Australian exporters overnight.
Strong Chinese industrial profits data, released on Saturday, might have also
lent a degree of support.
- A breach of $0.7053/55, which capped gains on Apr 2/3, shifts bullish focus to
Friday's peak at $0.7061. A further break above last Wednesday's high at $0.7103
would improve outlook. Meanwhile, bears look for a fall towards the lower
Bollinger band (2%) at $0.7011, while a close below $0.7000 is needed to extend
the major downtrend.
- Worth mentioning the ruling Liberal-National coalition narrowed its polling
gap with the opposition Labour, ahead of the May 18 federal elections. PM
Morrison will take part in a leaders' debate with Labour's Shorten later today.
- Australian highlights this week include private sector credit data due
tomorrow, m'fing PMI due Wednesday & building approvals due Friday. Chinese
official m'fing, non-m'fing & composite PMIs, as well as Caixin m'fing PMI, all
due tomorrow, will also provide interest.

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