AUD strikes a new low as JPY weakness.........>

FOREX: AUD strikes a new low as JPY weakness moderates

- A new multi-year low in AUD/USD Thursday has kept the currency among the

poorest performers globally this year, with no end in sight as technicals

continue to point to a lack of support for the pair. Poor jobs data was the

original catalyst, but a sharp leg lower in US equities added to the downside

pressure. Renewed concerns over Coronavirus and swathes of high volume selling

saw equities trade with losses of as much as 1.5% at some points of the session.

- Haven FX gained, although most notably the CHF, with the recent JPY weakness

only moderating, rather than reversing. This will likely raise further questions

over JPY's safe haven status. CNH underperformed from the off as the currency

looked to catch up with its Japanese counterpart. USD/CNH broke convincingly

higher, hitting the best levels since early December.

- Eurozone PMIs will be the focus of the Friday session given how weak the EUR

remains. PMI data is also due from Japan, the UK and US. Canadian retail sales

are due as well as US existing home sales. Speakers are due from across the Fed,

ECB and BoE.