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USDCAD TECHS

Fresh Lows Below 1.2062

AUDUSD TECHS

Extends This Week's Gains

JGB TECHS

(M1) Consolidating

EURJPY TECHS

Upside Extension Within Its Channel

US TSYS SUMMARY

Narrow Range Ahead April FOMC Minutes

AUSSIE

AUD/USD edges higher in early Asia-Pac trade, after sticking to an ~80 pip range last week, in sync with an uptick in e-minis. The rate last deals +6 pips at $0.7176.

  • The rate opened a handful pips lower after Victoria Premier Andrews announced that the state will extend its state of emergency by four weeks, as the number of deaths from Covid-19 surpassed 300.
  • Elsewhere, Australian Health Min Hunt said that the gov't is close to finalising a deal to manufacture a Covid-19 vaccine. The Sunday Telegraph reported that Australia is in talks with AstraZeneca.
  • Bulls look for a break above Aug 5/7 highs of $0.7241/43, which would clear the way to Feb 2019 high of $0.7284. Bears need a fall through Aug 3 low of $0.7077 before targeting Jul 24 low of $0.7064.
  • The RBA will publish the minutes from its Aug MonPol meeting on Tuesday. Later in the week, focus moves to Friday's flash CBA PMIs & ABS preliminary retail sales.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com