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AUD/USD has swam with the tide of risk-on....>

AUSSIE
AUSSIE: AUD/USD has swam with the tide of risk-on flows, unleashed by an article
pointing to optimistic early anecdotal data re: experimental use of a drug for
Covid-19. The rate trades at $0.6358, 31 pips better off. The main things to
watch today are Q1 GDP & monthly activity indicators out of China.
- Australian PM Morrison told ABC Thursday evening that domestic pension funds
should "play a more active role in dealing with the economic issues that we're
dealing with at the moment." Elsewhere, Dep PM & Transport Min McCormack pushed
back against the idea of nationalizing the struggling Virgin Australia. 
- The rate has penetrated the 50-DMA and bulls see their initial target at
$0.6445, Apr 14 high. A clean break here, coupled with yesterday's hammer
candlestick, would bode well for their cause. Conversely, the key near-term
support has been defined at $0.6214, Mar 31 high and former breakout level.
- Australian docket next week features the minutes from the RBA's MonPol meeting
and a speech from RBA Gov Lowe (Tuesday), as well as flash CBA PMIs (Thursday).

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