AUD/USD last seen at $0.6918, virtually......>

AUSSIE: AUD/USD last seen at $0.6918, virtually unchanged on the day.

Participants await the release of Australian Q1 private capex data & building

approvals, due at 0230BST/1130AEST.

- The rate finished 7 pips worse off yesterday, as Sino-U.S. trade tensions

continued to limit risk appetite, with focus mostly on suggestions that China

might use its dominant position as rare earths exporter against the U.S.

- AUD/USD slid into yesterday's European morning, but managed to stage a

recovery attempt through London afternoon. This proved short-lived and the rate

dropped into the WMR fix, before paring some of the losses into the close.

- RBA watcher Terry McCrahnn reiterated his view that the RBA will cut its cash

rate next week, while yesterday J.P.Morgan revised their RBA call to 4 more cuts

by mid-2020.

- A break above $0.6941, which represents the 21-DMA, would expose the 61.8%

fibo retracement of the YtD range, which comes in at $0.6953. The downside focus

on Monday's low of $0.6904, which limited losses yesterday.

- Australian focus on Friday will turn to domestic private sector credit data.