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AUDUSD ticked away from session lows.........>

AUSSIE: AUDUSD ticked away from session lows sub-0.7700 after the Tokyo fix and
shrugged off a softer than prior NAB business conditions survey. Business
conditions remained well above the historical average and the survey showed that
prospects for investment growth remains strong as the profitability index
remains at a very solid level, despite coming off the peak from late 2017.
Inflation measures were mostly weak but the increase in purchase costs provides
tentative evidence that inflation pressures may be starting to build.
- AUDUSD was pressured in early London dealing on Monday after reports suggested
that China was studying yuan devaluation as a tool to use in its trade spat with
the US. The pair bottomed in front of 0.7650 & recovered alongside buoyant
equities/commodities; moving back from best levels late on as equities pared
most of their gains as a report hit revealing that the FBI has raided the office
of Pres. Trump's long-time lawyer Cohen.
- AUDUSD's hesitation ahead of the key DMAs between 0.7716-0.7823 remain a
concern for bulls, as momentum corrects to more neutral levels, while bears now
need a close below the Dec 14 low (0.7630).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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