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AUD/USD topped the G10 pile overnight, as....>

AUSSIE: AUD/USD topped the G10 pile overnight, as the Aussie drew support from
optimistic rhetoric re: trade negotiations with Washington flowing from the
Chinese leaders. The pair posted a leg higher after Chinese President Xi pointed
to progress in the ongoing trade talks and called for an early conclusion of a
bilateral deal. Consequent risk-on flows waned somewhat, before Chinese VP Liu
provided more fuel to the earlier optimism, as he noted that Washington and
Beijing have found a new consensus.
- AUD/USD last deals at $0.7125, 12 pips better off.
- After the rate topped out at the lower end of the region, bulls look for a
clean break above $0.7127-$0.7132, which has capped gains this week. Above here
opens the 100-DMA at $0.7145. Meanwhile, bears look for a pullback below the
$0.7100 handle before challenging the 21-DMA at $0.7094.
- Australian focus next week will turn to domestic Westpac consumer confidence
due Wednesday and RBA Financial Stability Review due Friday, while RBA Dep Gov
Debelle will speak both on both Wednesday and Thursday.

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