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FOREX: AUD sinks for fifth consecutive session, cracking 200-dma
-Another day of losses for the AUD buts the currency at the bottom of the G10
pile Tuesday, prompting the pair to slip through the 200-dma at $0.6897 for the
first time since late December. With bushfires still raging, the economic cost
and response of the Reserve Bank of Australia is being called into question as
markets crank up their expectations for policy easing in the coming months.
-Elsewhere, GBP had a lively morning. UK parliament resumes today as the PM
looks to progress his landmark Brexit bill, but the moves seemingly weren't news
driven, as order flow helped tip GBP/USD briefly back above the $1.32 mark. The
greenback is generally stronger despite firmer equities on the continent.
USD/JPY's holding its recovery from the Monday session, which is helping breathe
a little life into US futures, which now sit within range of the alltime highs
printed Friday. Just in time for earnings season to kick off next week.
-US and Canadian trade balance data, the non-manufacturing ISM print for
December and factory orders for November. There are no central bank speakers of
note.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com