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Peso Loses Some Altitude


Coronavirus Cases Drop To Two-Month Low

AUSSIE: AUD/USD finished last week on a softer footing, but now trades off
Friday's lows, as the Aussie has edged higher alongside its commodity-tied
peers. The rate last sits +6 pips at $0.6419. PM Morrison spoke with the
Australian, urging employers and employees to cooperate on industrial reforms as
he criticised the "rigidity" of relations between the two groups.
- Bulls would like to see a break above the 100-DMA at $0.6511 before taking aim
at Apr 30 high of $0.6570, a bull trigger. On the downside, focus falls on last
Friday's low/50-EMA at $0.6402/6399 and a break here would clear the way to May
4 low of $0.6373, a key near-term support.
- Minutes from the RBA's most recent MonPol meeting & Australia's payroll jobs &
wages are due tomorrow, Skilled vacancies & flash retail sales hit on Wednesday,
while flash CBA PMIs & comments from RBA Gov Lowe come out Thursday.
MNI London Bureau | +44 203-865-3806 |