AUD Steady After Victoria Unveils Reopening Roadmap

AUD/USD has fluctuated within a tight range at the start to the week and last trades virtually unchanged at $0.7282.

• Victoria Premier Daniel Andrews unveiled the state's roadmap out of a lockdown, which closely resembled a draft leaked on Saturday. The slightly relaxed "stage four" restrictions have been extended by two weeks through Sep 28. Click here for more details.
• Australian Treasurer Frydenberg said in a statement that the government will extend bankruptcy protection for businesses through the year-end.
• On a different note, the government confirmed that it has secured deals to buy two Covid-19 vaccines if they prove effective. Australia would buy 84.8mn doses for A$1.7bn.
• AiG released their Performance of Services Index for Aug today and it deteriorated to 42.5 from 44.0.
• Bulls see Sep 3 high of $0.7340 as their initial target, with Sep 1 high of $0.7414 coming up next. Bears set their sights on the 20-EMA/Sep 4 low at $0.7248/22. A fall through these levels would open up Aug 20 low of $0.7136, a bear trigger.
• ANZ job ads headline Australia's economic docket today. Looking further afield, NAB Business Confidence comes out on Tuesday, while Westpac Consumer Confidence and housing finance data are due Wednesday.