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AUD/USD trades flat at $0.6733. The pair.....>

AUSSIE
AUSSIE: AUD/USD trades flat at $0.6733. The pair shed 38 pips Monday, with
liquidity sapped by regional holidays in some Aussie states (incl. Sydney/NSW).
- AUD/USD opened lower yesterday in reaction to a BBG report suggesting that the
range of topics China wants to discuss during the upcoming trade talks with the
U.S. has narrowed. The rate extended losses into EU hours, with subsequent
recovery capped at $0.6751 around the WMR fix. A tweet from Fox reporter Edward
Lawrence re: China being ready to strike a partial trade deal & discuss sticking
points next year provided a modicum of support before the rate slid further.
Worth noting that after U.S. hours Washington blacklisted 8 Chinese tech firms.
- RBA Gov Lowe wrote in the FT that in the world of low inflation & structurally
low real rates unconventional MonPol "may become increasingly important".
- Bears look for a retreat below the Oct 3 low/psych barrier at $0.6702/00.
Bulls target the $0.6781-85 area, which hosts the key resistance from the Sep 26
high, the 50% retracement of the Sep 12 - Oct 2 slide and the 50-DMA.
- Aussie focus today turns to local NAB biz. conf. Survey & ANZ job adverts.
Westpac cons. conf. survey hits on Wednesday.
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