Wednesday saw AUD/USD advance initially,.....>

AUSSIE: Wednesday saw AUD/USD advance initially, but the pair failed to hold

onto early gains in the second half of the day & retreated to neutral levels. A

firmer than exp. PBoC fix & improving risk sentiment lent support from the off.

Although the rate pulled back into Europe, it bounced & rallied thereafter,

topping out just shy of $0.6800. Subsequent slide was USD-driven, with a minor

uptick noted in the process as U.S. Pres Trump said that there will "probably"

be a trade deal w/China. The release of the latest FOMC policy meeting minutes,

which proved less dovish than hoped, inspired some volatility; another takeaway

were evident divisions between members on the preferred policy trajectory.

- AUD/USD last trades a touch higher at $0.6785. The rate continues to operate

within a familiar range. Bulls eye a break above the $0.6800 barrier, which

capped gains on Wednesday, with the Aug 8 high of $0.6822 providing the next

topside target. Meanwhile, the 23.6% fibo retracement of the Jul-Aug slide at

$0.6773 limited the downside yesterday and a fall below would clear the way to

the Aug 14 low of $0.6736.

- The three flash Australian PMI readings from CBA are due later today.