AUD/USD last last trades at $0.6899,.........>

AUSSIE: AUD/USD last last trades at $0.6899, barely changed on the day.

- Sino-U.S. trade spat continued to weigh on the broader risk appetite

yesterday, amidst a fresh wave of hawkish rhetoric from Chinese state media and

tensions re: the passage of U.S. Navy ships through the Taiwan Strait. AUD/USD

edged lower in Tokyo/London hours as a result, but losses were limited by

$0.6865/66, where the rate registered lows on May 17 & 21. Disappointing flash

PMI readings from the U.S. & sliding U.S. 10-Year Tsy yields pressured USD later

in the day, triggering a recovery capped only at $0.6901, and allowing AUD/USD

to finish 19 pips higher on an intraday basis.

- Above the nearby downtrend resistance at $0.6906 opens the post election highs

at 0.6938, ahead of the 21-DMA, which kicks in at $0.6962. Conversely, bears

need a fall below the aforementioned $0.6866/65 region before targeting the

$0.6825-40 area which registered a series of previous lows through Jan 2016.

- With the Australian docket empty today, focus next week will turn to domestic

building approvals & capex, both due Thursday.