AUD/USD rose 14 pips Tuesday amid............>

AUSSIE: AUD/USD rose 14 pips Tuesday amid improving risk appetite.

- A post-RBA MonPol decision spike to $0.6993 was immediately retraced, as the

25bps cut delivered by the central bank had been fully priced in. Subsequent

speech from RBA Gov Lowe inspired a short-lived knee-jerk to the intraday low of

$0.6957 as Lowe said that "it is not unreasonable to exp. a lower cash rate."

- A later speech from Fed Gov Powell boosted the pair as it noted that the Fed

"will act" to "sustain the expansion." Recovering risk sentiment allowed AUD/USD

to show above $0.7000 in the U.S. afternoon, before easing off late doors.

- Australian Treasurer Frydenberg criticised ANZ for failing to fully pass on

the RBA's decision, as the bank cut its variable rate by 18bps. Westpac said

they will trim theirs by 20bps, with CBA & NAB cutting by 25bps.

- AUD/USD is steady at $0.6991. A foray above $0.7000 would expose the 50-DMA at

$0.7026, ahead of the May 7 high at 0.7048. Conversely, should the rate violate

Tuesday's low of $0.6957, bears would target the 21-DMA at $0.6935.

- Australian GDP comes out at 0230BST/1130AEST, alongside comments from RBA's

Heath. Trade balance data is due on Thursday.