AUD/USD last deals at $0.7220, 5 pips........>

AUSSIE: AUD/USD last deals at $0.7220, 5 pips lower on the day, after a very

soft AU AiG Services PMI print, which saw the index slip into contractionary

territory, printing at 44.3 from 52.1. 

- Today's focal point comes in the form of the RBA's first MonPol decision of

2019, due at 0300GMT/1400AEDT, with no change exp. (see our RBA preview

http://marketnews-m.objects.xtenit.com/MNIRBAFeb2019.pdf). It is worth noting

that traders are already looking to an address from RBA Gov. Lowe, due tomorrow,

and the release of the RBA's SoMP on Friday. Also worth highlighting that AU

retail sales & trade balance data will hit today. 

- On Monday, the rate dropped 24 pips, as weaker than exp. Australian building

permits data & yuan weakness dragged AUD lower, amidst broader USD strength.

Also on Monday, the Australian Royal Commission published its findings into the

conduct of the major AU banks, no criminal proceedings will ensue. 

- Bears look for a fall below the cloud top at $0.7206 before challenging the

21-DMA at $0.7184, while bulls need to retake Monday's high of $0.7254 before

targeting the upper Bollinger band (2%) at $0.7271.