The AUDUSD marked a session high of 0.7537...>

AUSSIE: The AUDUSD marked a session high of 0.7537 post-Fed, but has eased since

to trade at ~0.7495 last.

- Thursday wbrings the release of Aussie trade & building approvals data,

although participants will be more focused on the release of the RBA's SoMP on

Friday.

- On the RBA front Commonwealth Bank of Australia have pushed back their

forecast for the first hike in the Reserve Bank of Australia's cash rate to

February 2019 from a prior forecast which looked for a November 2018 hike. CBA

chief economist Michael Blythe said that the macroeconomic backdrop indicates

that the next move in interest rates is up but the RBA's patience will be

lengthened due to new uncertainties from falling dwelling prices, funding cost

pressures and tightening lending standards.

- Fresh YtD & near 12 month lows have left AUDUSD looking heavy & bears focused

on the monthly low from May 2017 (0.7326), although oversold studies remain the

key concern for bears. Bulls now need a close above the May 01 high (0.7546) to

gain breathing room.