AUD/USD has weakened past $0.6000 as the.....>

AUSSIE: AUD/USD has weakened past $0.6000 as the risk switch flipped to "off" in

early Asia-Pac trade, with U.S. equity index futures losing ground. Australia's

Westpac Leading Index fell 0.43% M/M in Feb, suggesting that Australia is (per

Westpac's commentary) "vulnerable to the shock" of the coronavirus pandemic. 

- Elsewhere, Australian PM Morrison spoke this morning, noting that the gov't

considers additional economic measures to "cushion the impact" of the

coronavirus crisis and steps such as social distancing or bans on larger

gatherings. Morrison declared a human biosecurity emergency, thus tightening

existing social restrictions.

- AUD/USD sits -8 pips at $0.5991. Below Tuesday's low of $0.5959 would expose

the Apr 2003 low of $0.5929. Bulls need to retake the $0.6000 mark before taking

aim at the 23.6% retracement of Dec 31 - Mar 17 bear mkt at $0.6212.

- The Australian docket is quiet today, with participants bracing for an

eventful Thursday. The local labour market report comes out, while RBA Gov Lowe

will reveal further policy steps to be taken by Australia's central bank.