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AUD/USD sits at $0.7001, 27 pips better......>

AUSSIE
AUSSIE: AUD/USD sits at $0.7001, 27 pips better off, hitting fresh intraday
highs. Persistent USD sell-off, inspired by the latest round of dovish Fed
rhetoric, pushed the rate higher. Meanwhile, commodity-tied FX grew in strength,
with the Aussie gaining against most of its G10 peers.
- The rate advanced steadily overnight, breaking above the psychological $0.7000
barrier. Consolidation above the round figure would open up the 100-DMA, which
kicks in at $0.7023. Bears look for a retreat towards the $0.6957-53 zone, which
hosts the mid-point of the YtD range, cloud base, 21-DMA and 55-DMA.
- Chinese trade data is still awaited, should be released shortly. 
- On the Australian docket next week are minutes from the RBA Jul MonPol meeting
due Tuesday and the key labour market report due Thursday. China's economic
activity indicators may provide some interest on Monday.

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