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AUD/USD sits a touch lower at $0.6749........>

AUSSIE
AUSSIE: AUD/USD sits a touch lower at $0.6749 after shedding 22 pips yesterday.
- On Tuesday, the pair showed muted reaction to the latest RBA monetary policy
meeting minutes, which contained a discussion of potential impediments to
boosting monetary stimulus, concluded by an assertion that those factors didn't
outweigh the case for a rate cut. Downside pressure emerged in London hours amid
uncertainty re: U.S.-China trade talks; BBG reported that China is unlikely to
buy the $40-50bn worth of U.S. farms products touted by U.S. Pres Trump unless
the U.S. rolls back its tariffs on Beijing. AUD/USD pulled back from lows into
the WMR fix, but eased off thereafter.
- Bears need a drop below $0.6743, where the rate bottomed out yesterday, before
turning focus to the Oct 8 & 9 lows of $0.6723. Conversely, a breach of the
nearby 38.2% retracement of the Sep 12 - Oct 2 slide/21-DMA at $0.6757/58 would
put bulls in the position to target the 50-DMA/50% retracement of the
aforementioned range at $0.6778/83.
- Aussie labour mkt report & RBA Dep Gov Debelle's speech are due Thursday, RBA
Gov Lowe appears on Friday. Worth watching Chinese econ indicators on Friday.

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