*Sep4 Aussie-dollar open $0.7948,....>

AUSSIE SUMMARY: *Sep4 Aussie-dollar open $0.7948, range $0.7935 to $0.7973

*Risk off was the early theme in Asia as North Korea said that it successfully

conducted a test of a hydrogen bomb that can be loaded into a new

intercontinental ballistic missile. Aussie was marked lower from Friday's close

in New York of $0.7975 to trade to a $0.7935 

*Domestic corporate demand surfaced to add much needed support, together with

short covering pushed the Aussie up to $0.7973, essentially, filling the gap

from the close in New York on Friday

*There was muted reaction to Q2 Business inventories, the data came in at -0.4%

against expectations of +0.3%, at first glance this data should have a negative

impact to Wednesday's Q2 GDP.

*Heading toward the European open Aussie consolidated within a $0.7956 to

$0.7969 range and was last at $0.7960

*Resistance is located at $0.7996 (Aug30-4 highs), with supply then cited at and

above $0.8000, while Asia's base of $0.7935 is support.