Positive surprises in U.S. economic data.....>

AUSSIE: Positive surprises in U.S. economic data prompted AUD/USD to pare

earlier gains in U.S. hours Wednesday, as ADP employment change, Markit Services

PMI & ISM Non-M'fing topped forecasts, while annual trade deficit shrank for the

first time in six years. Nonetheless, the rate managed to remain in positive

territory, owing to an earlier rally on RBA Gov Lowe's comments on risks from

low interest rates & reports of progress in works on a coronavirus vaccine in

China and the UK. Later the WHO noted that there has been no breakthrough yet. 

- AUD/USD trades flat at $0.6749. A break above the Jan 29 high of $0.6777 would

clear the way to the trendline resistance at $0.6805. Bears look for a move

under the $0.6700 figure & towards $0.6679, which represents the Feb 4 YtD low.

- Australian Treasurer Frydenberg told ABC radio this morning that the

coronavirus outbreak will "significantly" affect the local economy, particularly

through ties with China, which have rapidly increased over the recent years. He

reiterated that returning the budget to surplus is not a priority now.

- Today's Australian data dump takes focus from here. Trade balance, retail

sales, and NAB Business Confidence Survey are due.