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Broad Consolidation


BLOCK, 5Y Sale


Breached The 50-day EMA

AUSSIE: AUD/USD struggled on Monday as FX risk proxies took a hit on the back of
the pressure on the U.S. tech space/broader U.S. equity mkts, as well as the
latest round of trade war salvos from over the weekend and China's Commerce
Ministry announcing that it is launching an anti-dumping investigation on
imported barley from Australia. Some suggested that this will be interpreted as
retaliation for the AU-U.S. security deal that was signed over the weekend.
- Rate last deals at $0.7299. Initial support is noted at the 100-DMA at
$0.7256. Bulls seek a close above $0.7328 to confirm the recent bullish trend.
- Focus falls on the RBA Nov meeting minutes, although most see little scope for
any ground-breaking information as the decision was supplemented by the
quarterly SoMP. RBA Gov. Lowe will speak later in the day, with the address
titled "trust & prosperity."
MNI London Bureau | +44 0203-865-3809 |