AUD/USD slid into the Asia open on the.......>

AUSSIE: AUD/USD slid into the Asia open on the back of comments from U.S. TR

Lighthizer and U.S. Tsy Sec Mnuchin, who accused China of reneging on

commitments made in the course of bilateral trade talks and said that the U.S.

is planning to raise tariffs on Chinese imports, effective on Friday.

Consequently, AUD/USD registered the first close below $0.7000 since the Jan 3

flash crash and currently trades at $0.6989, 3 pips lower on the day.

- This came after Monday's Asia-Pac hours saw the rate sink to a 4-month low of

$0.6963 as U.S. President Trump unexpectedly threatened to impose fresh tariffs

on China later this week. However, the rate pared losses into Europe as the SCMP

reported that Chinese VP Liu may nonetheless travel to the U.S. this week,

amidst worries that he might cancel the trip.

- Bears look for extending losses through the lower 1.0% 10-DMA envelope at

$0.6960, while bulls target $0.7000.

- Australian retail sales and trade balance come out at 0230BST/1130AEST, ahead

of today's monetary policy decision from the RBA. For our RBA preview visit

https://emedia.marketnews.com/RBA_Preview_May_2019.pdf.