AUD was one of the major beneficiaries.......>

AUSSIE: AUD was one of the major beneficiaries from the weekend's U.S.-China

trade "truce," and broader improved risk appetite on Monday.

- Rate last deals at $0.7357, virtually unchanged in early dealing. Bulls

ultimately need a break of $0.7400 to build on recent momentum, an area which

also combines the congestion zone seen in Jun-Aug and the 200-DMA which

currently comes in at $0.7416. Initial support noted at $0.7316, the technical

gap from Nov 30.

- RBA MonPol decision provides the focal point of the docket today. Not much

expected in terms of fireworks as the Bank confronts a backdrop of a tightening

labour market, limited inflation & wage growth, moderating house prices in some

of the major AU cities and the global trade war backdrop. All of those surveyed

expect the Bank to leave the cash rate unchanged at 1.50% at its final decision

of 2018. Markets currently pricing a ~65% chance of the Bank remaining on hold

through Sep 2019 according to BBG WIRP function.

- AU current account data also due today ahead of tomorrow's GDP print.