AUD/USD once again showing through...........>

AUSSIE: AUD/USD once again showing through yesterday's highs with the USD on the

backfoot vs. G10 in early Asia dealing. Rate traded as high as $0.6813 in the

NY/Asia crossover, last sitting a handful of pips higher on the day at $0.6805.

Bulls look to $0.6827 as the next area of key resistance, which represents the

Jan 27 high. The retracement from the March lows has been aided by the rally in

risk appetite over that time (a particularly close correlation to the S&P 500

previously flagged), with upticks in the likes of gold and iron ore also

helping.

- Broader immediate focus is set to fall on the impending RBA monetary policy

decision (see our full preview for further details). As a reminder, no change

expected at the RBA, with a focus on the nuance surrounding the economic outlook

after Governor Lowe pointed to a slightly less downbeat backdrop last week.

There is also scope for altered commentary re: the AUD, given the retracement in

the AUD TWI in recent weeks, although that shouldn't be seen as anything like a

given.

- Elsewhere, the latest round of Q1 GDP partials is due to hit.