Softer than exp. GDP partials weighed on......>

FOREX: Softer than exp. GDP partials weighed on AUD, as AUDUSD registered

session lows of 0.7630, with support coming in the form of the 55-DMA at 0.7616.

AUDUSD last at 0.7637. Participants now await the RBA MonPol decision. All of

those surveyed exp. the RBA to stand pat. It's unlikely that the RBA will make

any change to its guidance, so the most important part of the statement may

centre on the housing market as this is where the key downside risk to the

economy lies. Elsewhere comments re: GDP partials & their impact on the Bank's

economic outlook will be eyed. NZDUSD moved to session lows of 0.7026 after the

NZ Tsy's monthly economic indicators suggested that NZ's Q1 growth may miss the

levels forecast in the budget, although the Tsy did suggest that economic growth

will pick up later in 2018. NZDUSD's range remains tight, last 0.7030.

- USDJPY staged a test of 110.00 in early dealing, but failed; the level is

expected to provide key resistance ahead of the 110.21 200-DMA.

- Risk events of note on Tuesday include the RBA MonPol decision, EZ, UK & US

services PMIs, as well as EZ retail sales & ISM non-m'fing PMI & speeches from

ECB's Nowotny, Weidmann and BoE's Cunliffe.