AUD/USD last trades -42 pips at $0.6162......>

AUSSIE: AUD/USD last trades -42 pips at $0.6162. The rate started the week on

the back foot as the coronavirus crisis has seen multiple countries across the

world introduce more stringent measures to contain the outbreak. The rate spiked

higher as the Fed reduced its policy rate to zero and pledged to buy at least

USD700 billion of government securities. That being said, AUD/USD promptly gave

away those gains and showed at its worst levels since 2008.

- Australia's CFR said that the RBA will conduct 1- & 3-month repo ops until

further notice & will conduct repo ops of 6-month maturity or longer "at least

weekly, as long as market conditions warrant." The CFR will also meet with major

lenders this week "to discuss how they can best support households and

businesses through this challenging period."

- Australia & South Korea called for discussions on the coronavirus crisis

between G20 leaders. PM Morrison noted that the proposal is backed by his Indian

& UK counterparts.

- A drop below the lower 3.0% Bollinger band at $0.6083 would please bears. On

the flip side, bulls eye Friday's peak at $0.6326.