AUD/USD opened slightly lower amid...........>

AUSSIE: AUD/USD opened slightly lower amid concerns about the coronavirus

situation in several locations and well-documented EU fiscal backdrop, but has

already recouped losses. +ves surrounding a potential Covid-19 vaccine developed

at Oxford University may have helped sentiment, to a degree. The pair posted a

fresh leg higher as BBG reported that Denmark is ready to accept EUR400bn of

grants in the EU fiscal plan, inspiring a round of light risk-on flows.

- Australian Treasurer Frydenberg said taht the gov't will increase support for

small businesses suffering from the Covid-19 pandemic, by offering them

guaranteed loans of up to A$1.0mn. The gov't will also introduce another phase

of the Jobkeeper programme, which expires at the end of Sep.

- AUD/USD last +4 pips at $0.6999. Above Jul 15 high of $0.7038 opens Jun 10

high of $0.7063. Below Jul 7/14 lows of $0.6922/21 opens Jun 30 low of $0.6833.

- Coming up this week we have RBA Jul MonPol meeting minutes & speeches from

RBA's Lowe & Kent (Tuesday), flash retail sales (Wednesday), NAB Biz. Conf.

(Thursday), as well as flash CBA PMIs & flash trade data. Thursday's economic

and fiscal update from Treasurer Frydenberg will be closely watched.