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Marginally Firmer, Holding Familiar Range

AUD

AUD/USD trades at $0.7239, marginally above neutral levels, with the rate holding a familiar range so far. Bears look for losses past Nov 19/Oct 6 lows of $0.7227/26, which would bring Sep 29 low of $0.7170 into play. Conversely, a rebound above Nov 15 high of $0.7371 would give bulls some reprieve.

  • Looking into this week's docket, Australia's flash Markit PMIs are due tomorrow, with quarterly completed construction work & private capex coming up Wednesday and Thursday respectively. Retail sales will top things off on Friday.
  • RBA speaker slate features Head of Domestic Markets Kohler (Tuesday) & Assistant Governor Bullock (Wednesday).
  • Just worth noting that PM Morrison will hold a press conference at the bottom of the hour to announce the planned visa changes.

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