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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.

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