AUD/USD opened a touch lower, but has........>

AUSSIE: AUD/USD opened a touch lower, but has climbed to Friday's closing levels

since. The pair last sits at $0.7022, barely changed on the day.

- The Aussie finished Friday as the best G10 currency, amid demand for

commodity-tied FX. Meanwhile, the greenback was the poorest G10 performer thanks

to the latest round of dovish Fed rhetoric. This resulted in a ~46 pip move

higher in AUD/USD, on a daily basis.

- The rate is threatening to break above the 100-DMA at $0.7023 at typing. A

success here would please bulls, shifting their focus to the upper 1.0% 10-DMA

envelope at $7054, sandwiched between the Apr 2 and Apr 3 lows. On the downside,

a dip below the YtD mid-point at $0.7018 and the psychological $0.7000 barrier

would open the 200-HMA, which comes in at $0.6985.

- Australia will provide a A$600mn cash boost for pensioners over the next 4

years, according to Australian Social Services Minister Ruston.

- China's Q2 GDP & Jun activity indicators will be closely watched today. On the

Australian docket this week are minutes from the RBA Jul MonPol meeting, due

Tuesday, and the key labour market report, due Thursday.