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AUD popped higher in reaction to a beat in....>

FOREX
FOREX: AUD popped higher in reaction to a beat in domestic unemployment rate,
but then took a nosedive as the focus turned to breakdown figures. The reading
was boosted by an unprecedented plunge in participation, as employment shrank
more than forecast. NZD clung to the coat-tails of its Antipodean cousin on both
swings, but recovered thereafter, leaving AUD at the bottom of the G10 pile. JPY
outperformed in the basket as regional equity benchmarks declined on a negative
lead from Wall Street & PBoC inaction re: MLF. Concerns over Sino-U.S. tensions
and the coronavirus situation did little to help sentiment.
- Wider defensive feel pushed USD/Asia higher. IDR led losses after Indonesia
reported a record increase in domestic coronavirus cases yesterday. USD/CNH
slipped a tad, while USD/CNY ticked higher testing CNY7.1000 to the topside.
- Coming up today we have U.S. initial jobless claims, German CPI, ECB Economic
Bulletin & BoC FSR. Speaker slate features BoE's Bailey, BoC's Poloz, ECB's de
Guindos and Fed's Kashkari, Bostic & Kaplan.

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