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AUD Dented By NSW Covid Situation, China's Reported Nod For U.S. IPOs Triggers Risk-On Flows

FOREX

AUD went offered as NSW reported 239 new Covid-19 infections, a record daily increase in its caseload, while officials announced tighter mobility restrictions in 8 Sydney virus hotspots. Major AUD crosses ground lower but generally held tight ranges.

  • USD/CNH ignored an in-line PBOC fix but then took a hit as CNBC reported that China will continue to allow domestic firms to go public in the U.S. The spot faltered past yesterday's low.
  • The aforementioned CNBC report reduced demand for safe haven currencies. The DXY fell to a fresh two-week low, extending its post-FOMC losses, while USD/JPY posted a marginal uptick.
  • German unemployment & flash CPI will take focus in European hours, with U.S. docket headlined by advance Q2 GDP & weekly jobless claims.
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