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AUD/USD sank yesterday as the local Labour...>

AUSSIE
AUSSIE: AUD/USD sank yesterday as the local Labour Force Survey revealed a
larger than expected uptick in unemployment rate, as a surge in full-time
employment wasn't enough to absorb the swelling workforce. This played out
against the backdrop of a resurgent concern over the Covid-19 epidemic. The
recent lows gave way and AUD/USD printed its worst levels in 11 years.
- Flash Australian CBA PMIs came out earlier today, with services & composite
metrics dipping below the breakeven mark. CBA deemed the readings
"disappointing" but "not altogether surprising."
- AUD/USD holds steady at $0.6616. Bears keep an eye on the 50-DMA, which is
heading towards the 100-DMA. The lower 3.0% Bollinger band may provide support
at $0.6586, with a descending trendline drawn off the Jan 8 low intersecting
further below at $0.6546. Bulls look for a jump above the $0.6700 mark before
targeting trendline resistance at $0.6719.
- Looking into next week's docket, we have completed construction work coming up
on Wednesday, capex hitting on Thursday & private sector credit data wrapping
things up on Friday.

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