AUD/USD snapped a six-day winning streak.....>

AUSSIE: AUD/USD snapped a six-day winning streak Thursday after a choppy trade,

which saw a failure to consolidate above the 100-DMA in Asia hours. The rate

sank in European hours, tracking losses in equity markets, but rebounded into

the last WMR fix of the month. The U.S. session brought renewed sales as equity

markets continued to struggle.

- Early risk-off flows have put AUD/USD on the defensive this morning and the

rate sits -28 pips at $0.6484. Liquidity is likely thinner owing to holidays in

China and a few other countries in the region, though not the Antipodeans. At

this point, Thursday's move is seen as a correction, but a breach of Apr 14 low

of $0.6445, former breakout level, would give bears reasons to worry. Bulls look

for a rally above the 100-DMA at $0.6563, towards Mar 9 high of $0.6685.

- Australian PPI, final CBA M'fing PMI & CoreLogic House Prices will be watched

today. Looking further afield, next week's docket features building approvals &

ANZ job ads (Monday), weekly payroll data & RBA MonPol decision (Tuesday),

retail sales (Wednesday), trade balance (Thursday) and the RBA's SoMP (Friday).