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AUD/USD last trades at $0.7091, a touch......>

AUSSIE
AUSSIE: AUD/USD last trades at $0.7091, a touch lower on the day, after today's
Asia-Pacific session saw price action driven by regional data. AUD edged higher
in early Asia-Pac trade, after the latest AiG PMI data indicated that the
expansion of Aussie m'fing sector accelerated in February. The pair eased off
subsequently, before jumping to intraday highs of $0.7109, as Chinese Caixin
m'fing PMI topped forecasts. However, the impact of Chinese data proved rather
short-lived, with the headline reading remaining in contractionary territory.
- Bears look for a fall through the cloud top at $0.7071, which would bring the
lower 1.0% 10-DMA envelope at $0.7064 into play. Bulls need a push through
$0.7109, which has capped gains today, before challenging the 50-DMA & 55-DMA at
$0.7132.
- Next week's economic docket in Australia is headlined by the RBA MonPol
decision due Tuesday, which will be followed by a speech from RBA Governor Lowe
on Wednesday. Elsewhere, building approvals & Melbourne Inst. inflation due
Monday, GDP due Wednesday, as well as trade balance & retail sales due Friday
will be of interest.

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