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AUD/USD last deals at $0.7120, 24 pips.......>

AUSSIE
AUSSIE: AUD/USD last deals at $0.7120, 24 pips better off, as AUD was propped up
by the combination of strong Chinese data & optimism re: Sino-U.S. trade talks.
- The rate started on the front foot after all three official Chinese PMI gauges
released over the weekend advanced, with m'fing PMI moving back into positive
territory. AUD/USD eased off gradually before recovering after rate of decline
of Australian CoreLogic House Price Index slowed to -0.7% M/M from -0.9%. A
strong Chinese Caixin m'fing PMI reading allowed the pair to extend gains.
- A break above the $0.7142-$0.7148 region, which capped gains last Wednesday
and Tuesday, would open up the Mar 21 monthly high/upper Bollinger band (3%) at
$0.7168/74. Meanwhile, bears look to the 200-HMA & 100-HMA, both located at
$0.7102, after the level remained intact overnight.
- Tomorrow's RBA MonPol decision, which headlines this week's docket in
Australia, will be followed by the release of AU building approvals and
Australian 2019-20 federal budget on the same day.
- Elsewhere, Australian retail sales and trade balance, as well as Chinese
Caixin services & composite PMIs are due Wednesday.

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