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AUD/USD slipped Thursday as the escalating...>

AUSSIE
AUSSIE: AUD/USD slipped Thursday as the escalating U.S.-China spat encouraged
participants to shy away from riskier assets, with Washington angered by China's
plans to crack down on Hong Kong's autonomy. Sino-Australian relations also
remain tensed, which may have contributed to confusion over a story re: China's
rules on iron ore imports circulated in Asia hours. As became apparent, the
changes have been planned for a while and were welcomed by Australian gov't
off'ls & key producers.
- AUD/USD sits at $0.6569 this morning, a touch above neutral levels. A jump
above May 20 high of $0.6616, exposing the upper 2.0% 10-DMA envelope at
$0.6638. Conversely, a fall below May 19 trough at $0.6510 would open up
$0.6402, where the rate bottomed out on May 15.
- Next week's local calendar includes completed construction work (Wednesday),
as well as private capex & flash trade data (Thursday).

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