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AUD/USD sits 11 pips lower at $0.6939 in.....>

AUSSIE
AUSSIE: AUD/USD sits 11 pips lower at $0.6939 in early Asia-Pac trade as
escalating tensions in the Mideast continue to dent risk sentiment. Earlier
today in Australia, AiG published their m'fing PMI while CBA released their
final services and composite PMIs. All three figures improved vs. the prior
readings, but remained in contraction.
- The rate fell 43 pips Friday amid broader risk-off reaction to the U.S.
killing of a top Iranian general. Friday's range has been respected so far.
- The weekend saw an exacerbation in wildfires raging across Australia, with the
government calling up army reservists to help with firefighting and evacuations.
- From the technical point of view, the focus is on $0.6904, the low of Dec 25.
Any move below there would open the nearby 200-DMA at $0.6898. Bulls need to
retake the $0.7000 mark before taking aim at the Dec 31 high of $0.7032.
- Looking ahead, the Australian docket this week features ANZ job ads (Tuesday),
building approvals & job vacancies (Wednesday), trade balance (Thursday) &
retail sales (Friday). Also on the radar are China's Caixin services & composite
PMIs (today) and inflation data (Thursday).

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