AUD/USD last trades at $0.7041, basically....>

AUSSIE: AUD/USD last trades at $0.7041, basically unchanged on the day, after

finishing 19 pips better off Monday.

- The highlight today is the publication of the minutes from the RBA's latest

(July) monetary policy meeting.

- Solid data prints out of China put a bid into the Aussie on Monday, pushing

the rate higher in the Asia-Pac session with gains held through the rest of the

day. GDP numbers broadly met expectations (with a slight beat in the Q/Q

metric), while retail sales and industrial output were better than forecasted.

- The rate retains a bullish tone, with initial focus falling on $0.7048, where

AUD/USD peaked on May 7 & Jul 4. A break above the level would draw the topside

attention to the 38.2% retracement of the YtD range at $0.7083, which provided

support on Feb 22. Meanwhile, bears target the 100-DMA/mid-point of the YtD

range at $0.7020/18 and a slide below would shift their focus to $0.7000, the

psychologically significant barrier & the high of Jul 2.

- On the data front, this week's docket in Australia is headlined by the key

labour market report, due Thursday.