The Asia-Pac session saw AUD/USD gradually...>

AUSSIE: The Asia-Pac session saw AUD/USD gradually ebb lower from off, as risk

assets struggled, with crude oil and iron ore posting drops. The pair moved away

from worst levels in the second half of the session, as according to a BBG

source fresh AUD demand was generated by "a large Australian exporter buying

local currency to pay more than A$2bn in dividends to shareholders."

- AUD/USD last trades at $0.7162, 10 pips worse off.

- Australian PM Morrison called the federal election for May 18. Elsewhere, late

doors Weds U.S. Tsy Sec Mnuchin said that the U.S. and China reached agreement

re: trade deal enforcement mechanism, but AUD's response was muted overnight.

- A dip below the 100-DMA at $0.7140 would expose yesterday's low of $0.7110.

Conversely, bulls look to the down trendline resistance, which comes in today at

$0.7177, ahead of the 200-DMA at $0.7196.

- Worth noting A$1.04bn worth of options with strikes at $0.7100 expires at

today's 1000ET NY cut.

- RBA's Financial Stability Review comes out on Friday, while participants

continue to look for signs of progress in finalising the U.S.-China trade deal.