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AUD/USD last deals at $0.7106, virtually.....>

AUSSIE
AUSSIE: AUD/USD last deals at $0.7106, virtually unchanged on the day, after
dropping 7 pips Friday, as U.S. NFP report applied pressure to the pair. This
occurred although AUD topped the G10 pile in the Asia-Pac hours, supported by
optimistic comments re: Sino-U.S. trade talks from top Chinese officials.
However, the initial enthusiasm waned somewhat into the European morning, before
the aforementioned U.S. data made the pair extend losses and hit its intraday
low of $0.7092 just post-WMR fix.
- Worth noting Australian press reported that the upcoming Australian federal
election will likely take place on May 18, as PM Morrison is exp. to wait
another week with the announcement.
- The $0.7127-$0.7132 region continued to provide technical resistance on
Friday, after capping gains earlier in the week. A break above would expose the
100-DMA at $0.7145. Conversely, bears target the 21-DMA at $0.7193.
- Australian focus this week will turn to domestic Westpac consumer confidence
due Wednesday and RBA Financial Stability Review due Friday, while RBA Dep Gov
Debelle will speak both on both Wednesday and Thursday.

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