AUD/USD trades at $0.6848, 8 pips lower......>

AUSSIE: AUD/USD trades at $0.6848, 8 pips lower but off an earlier trough at

$0.6840. This comes after the pair added 32 pips Friday. There was little

immediate impact of RBA Gov Lowe's speech/Chinese data on Friday, but a broader

sell-off in USD lent support, allowing the rate to extend its weekly gains.

- Westpac est. that the RBA's effective lower boundary is 0.5% and will be

reached in Feb, which might lead to some asset purchase programme in 2020.

- Despite today's marginal throwback, the upside momentum sparked by last

Wednesday's hammer candlestick pattern remains intact. The initial topside

target is provided by $0.6858, where Friday's high coincides with the 100-DMA. A

push above would shift focus to the key Sep 12 peak at $0.6895. Bears would be

pleased by a drop below the $0.6833-30 zone, which hosts the Jul 31 low, Sep 5

high, Sep 19 high and Oct 17 high. Below opens the $0.6800 mark.

- As we have flagged before, today will see large coupon payments and bond

redemption in Australia, totalling a cumulative ~A$19.0bn.

- Looking into the local docket: skilled vacancies and comments from RBA Asst

Gov Kent are due on Weds and preliminary PMI readings from CBA hit on Thurs.