The AUD has not been affected by the early...>

AUSSIE: The AUD has not been affected by the early release of the Chinese

non-manufacturing & composite PMI data points, with AUD/USD sticking to a sub

10-pip range thus far, last $0.7410.

- The AUD/USD cross has been somewhat confined to the recent range and the

larger bearish picture remains unchallenged. Medium term trend indicators have

also remained bearish. The 50-DMA at 0.7465 and the upper end of the major

descending channel, now at 0.7491 are containing the upside. But, a close below

the July 20 lows (0.7317) is needed to give a fresh bearish signal.

- Today's domestic data points of interest come in the form of building

approvals and private sector credit, while participants will also look to the

release of the official Chinese manufacturing PMI & BOJ MonPol decision.

- Focus later this week will turn to the AU trade balance & retail sales along

with the FOMC MonPol decision & U.S. labour market report.