AUD/USD oscillates around unchanged..........>

AUSSIE: AUD/USD oscillates around unchanged levels, last sits at $0.6850. Coming

up today are Australian trade balance and retail sales.

- Wednesday was a day of two halves for AUD/USD. It dropped in Asia-Pac hours,

with AUD landing at the bottom of the G10 pile, as Australian Q3 GDP was

slightly weaker than expected and revealed that household consumption is in a

worrying shape despite tax cuts and rising home prices.

- However, the rate rebounded into the London morning, drawing support from a

BBG story suggesting that the U.S. and China are edging towards an agreement re:

tariff rollback despite tensions over Hong Kong & Xinjiang. The release of

softer than expected ADP employment report out of the U.S. helped sustain the

move higher, as it sapped strength from the greenback.

- Bulls look for a break above the 61.8% retracement of the Oct 31 - Nov 29

sell-of at $0.6863, which limited gains on Tuesday. This would bring the $0.6917

200-DMA into view. On the flip side, a fall under $0.6835, the high of Nov 19,

would encourage bears to set their sights on the 100-DMA/50-DMA at $0.6814/12.

- The RBNZ decided on bank capital review; see earlier bullets for details.