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AUD/USD staged an impressive recovery on.....>

AUSSIE
AUSSIE: AUD/USD staged an impressive recovery on Monday as risk appetite reared
its head, with participants watching the fallout from the G7 summit. Risk-off
flows put the pair on the defensive in early Asia-Pac trade on Monday amid an
escalation in U.S.-China trade war, but conciliatory comments from Chinese VP
Liu & U.S. Pres Trump's remark that China wants to restart talks helped ease
pressure and the rate wiped out its initial losses into Europe. European & U.S.
hours saw risk sentiment grow firmer, as Trump kept optimistic rhetoric re:
China flowing, struck a positive note re: the potential for talks with Iran &
pointed to de-escalation in trade tensions with Japan & France.
- AUD/USD last deals at $0.6775, unchanged on the day. On the topside, focus is
on trendline resistance, which intersects at $0.6786. Above would open the
$0.6800 mark, which capped gains last Wednesday. Bears would be pleased with a
retreat below the nearby 23.6% fibo retracement of the Jul-Aug slide at $0.6773;
a breach would shift their focus to the Aug 20 low of $0.6755.
- RBA Dep Gov Debelle speaks later today. Aussie construction work done is due
on Wednesday, capex hits on Thursday & building approvals come out on Friday.

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