AUD/USD rose to $0.6762 on the back of a.....>

AUSSIE: AUD/USD rose to $0.6762 on the back of a stronger than expected PBoC fix

only to slide from there, more than erasing its earlier gains in the process, as

Australian Q2 completed construction work, a quarterly GDP input, undershot

expectations. The figure came in at -3.8% Q/Q vs. BBG median forecast of -1.0%,

with the prior reading revised lower to -2.2% from -1.9%.

- AUD/USD last trades at $0.6738, 14 pips worse off on the day. The rate twice

tested $0.6735, but each time promptly moved back above the Aug 14 & 23 lows of

$0.6736. A clean break under $0.6736/35 would clear the way to the lower 1.0%

10-DMA envelope at $0.6698. Bulls look to the 23.6% retracement of the Jul-Aug

slide at $0.6773.

- Chinese Foreign Ministry pushed back against Canberra's criticism re: the

recent detention of an Australian writer & academic on suspicion of espionage in

China, in what may become a source of tension in Sino-Australian relations.

- GDP partials will continue to flow in, with the release of Q2 capex scheduled

for Thursday. Building approvals & private sector credit data for July are due

on Friday.