• AUD/USD flat Wed, wage inflation remains elevated & housing finance recedes

• AU Q1 wage price index +0.8% q/q (poll +0.8%), +3.3% y/y (poll +3.3%)

• AU Q1 housing finance: owner occupied -4.3% q/q, investment -3.0% q/q

• U.S.-CN meeting in focus, trade & business agenda expected main agenda

• U.S. inflation jumps most in 3-years, Apr CPI 3.8% y/y (prior 3.3%)

• Oil stockpile concerns escalating as Iran peace deal tanks, WTI above $100

• AUD short of required momentum to mount 0.7283 challenge, may soften further

• Range Aisa 0.7232-435, support 0.7100 0.6834, resistance 0.7283 0.7661
AUD Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)