AUD/USD inches higher
AUD/USD is now up 3 pips on the day to 0.6803. It fell is low as 0.6763 in what would have been the 11th consecutive daily decline.
The rebound comes as the broad risk trade improves. The S&P 500 is down 19 points to 2933 after falling as low as 2914. The bounce, which extends to the bond market as well, has helped to lift risk trades across the board.
Today's Australian retail sales data was mixed but close to expectations. Tuesday is the big day for the Aussie next week with trade balance data and the RBA decision. There is a strong consensus for no change at 1.00% but a cut is seen in October or November and signals will be key.