The Aussie helps bring up the rear in the.....>

FOREX: The Aussie helps bring up the rear in the G10 basket after Australian Q3

GDP report tilted bets for a rate cut at the next RBA meeting to the dovish

side. Q/Q growth was slower than exp., while uninspiring household consumption

cast doubt on the supposed merits of tax cuts and rising house prices. On the

news front, attention was drawn to U.S.-China squabbles re: the Xinjiang bill

passed by U.S. House of Reps, which added to the mounting evidence of a snag in

bilateral trade talks, limiting the Antipodeans and bolstering JPY.

- A weaker than expected PBoC fix made room for the yuan to soften amid trade

war concerns. USD/CNY touched the highest levels in more than a month, even as

USD/CNH struggled to break out of yesterday's range. Pessimism re: global trade

matters prompted decent KRW sales. This allowed USD/KRW to rally sharply after

opening above the 100-DMA, which kept a lid on price action yesterday.

- CAD fared quite well ahead of today's monetary policy decision from the BoC.

- U.S. ADP employment change & ISM non-m'fing and a number of services/composite

PMI readings from across the world take focus from here. Comments are awaited

from ECB's Villeroy, Visco, Makhlouf and de Cos, as well as Fed's Quarles.