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A recovery in oil prices and slightly........>

AUSSIE
AUSSIE: A recovery in oil prices and slightly firmer risk appetite pushed
AUD/USD higher on Thursday, allowing the rate to erase early losses linked to
poor domestic PMI figures. The rally ran out of fuel late doors amid reports
pointing to a failed Chinese trial of remdesivir, an experimental drug for
Covid-19 developed by Gilead Sciences (later played down by the company).
- AUD/USD sits at $0.6373, almost unchanged on the day. The rate closed above
its 50-DMA Thursday, which encourages bulls to target that day's high of
$0.6406. Above there would open the key near-term resistances at $0.6445, Apr 14
high. Bears look for a retreat under Apr 21 low of $0.6254, which would open up
Mar 31 peak at $0.6214, former breakout level.
- Australia's economic calendar for next week features CPI data (Wednesday), as
well as terms of trade, private sector credit and AiG M'fing PMI (Thursday). 

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