AUD/USD respected a familiar range...........>

AUSSIE: AUD/USD respected a familiar range overnight. A late doors leg higher

allowed it to recoup earlier losses and the pair last deals at $0.6996, just

above neutral levels.

- The rate's reaction to Australian economic was very muted, with nothing more

than a tiny uptick observed as trade surplus proved wider than expected, while

building approvals were also better than forecasted. Worth noting that

underwhelming Caixin services PMI out of China might have countered potential

impact of green shoots in Australia.

- This came after Australian services PMIs from AiG & CBA undershot prior

readings, but remained in expansionary territory.

- Bulls continue to look to the $0.7000 mark, which has remained intact for two

consecutive sessions. Above opens the 100-DMA, which comes in at $0.7033. On the

downside, the initial target is provided by the 200-HMA/55-DMA at $0.6978/70.

- Aussie focus turns to domestic retail sales, due tomorrow. On that same day,

it is worth watching job vacancies data, given the RBA's interest in labour mkt

developments.