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Slightly Lower

AUD

AUD/USD has edged lower amid a downtick in crude oil prices. The rate changes hands -8 pips at $0.7490, with bears looking for losses past Mar 23 low of $0.7450 towards Mar 22 low of $0.7376. Meanwhile, a move through Mar 28 high of $0.7540 would shift focus to $0.7556, which capped gains on Oct 28.

  • The RBA will deliver its next monetary policy decision on Tuesday (expect our full preview of that event to cross later in the day), before releasing its semi-annual Financial Stability Review on Friday.
  • On the data front, Australia's Melbourne Institute inflation and ANZ job ads will hit the wires later today, with monthly trade data coming up Thursday.

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