Barclay's trade of the week is a long........>

AUSSIE: Barclay's trade of the week is a long AUD/USD position at $0.7285,

targeting a move to $0.7360, with stop-loss level at $0.7248.

- Barclays note that "spot AUD/USD has rebounded ~2% from its $0.7085 lows on

fading risk aversion. The AUD has recently traded with a high sensitivity to

yuan movements, in addition to its usual high beta to risk sentiment, but CNY

weakness is currently being limited by the authorities. While global trade &

growth concerns remain given Trump's protectionist stance, resilient energy &

iron ore prices amid trade uncertainty is supporting Australia's term of trade.

The AUD has also recently received support from a ratings outlook upgrade from

S&P. While there are no major events in Australia in the coming week, a

continued unwinding of "risk-off" trades could support the AUD, considering that

short position in the currency remains fairly extended. The risks to the trade

include a hawkish FOMC statement or set of economic projections this week, a

weaker-than-expected China PMI report, or sharp reversal of risk sentiment

driven by EM shocks, resulting in a technical rejection at the upper bound of

the trend channel that has enveloped the cross since Jan."