The Aussie ended up at the bottom of the.....>

AUSSIE: The Aussie ended up at the bottom of the G10 currency board yesterday,

as the U.S. and China engaged in a tit-for-tat tariff war. AUD/USD drifted lower

gradually, closing 58 pips lower on the day.

- As a reminder, on Monday China announced retaliatory tariffs on U.S. goods to

take effect on June 1, while the government-backed Global Times suggested that

Beijing may stop buying U.S. agricultural products & reduce its Boeing orders.

Elsewhere, U.S. TR's office released the list of goods, which U.S. Pres Trump

threatened to target with another round of tariffs.

- AUD/USD last trades flat at $0.6943, operating near the worst levels since the

Jan 3 flash crash. A dip through the lower 1.0% 10-DMA envelope at $0.6920 would

expose the lower Bollinger band (2%), situated at $0.6903. Conversely, should

AUD/USD clear the 100-HMA/200-HMA at $0.6987/95, bulls would target $0.7000.

- NAB biz. conf. Survey comes out later today, with Westpac cons. conf. due to

follow on Wednesday, but Australian labour mkt data, due Thursday, will likely

garner most attention. Elsewhere, RBA's Bullock will speak also on Thursday.