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LSAP Purchase Target Unchanged


China Repo Rates Decline Friday


China May Increase Fiscal Spending in H2: Times


IRs Pressured

AUSSIE: AUD/USD sits at $0.6761, virtually unchanged on the day. The local
calendar is headlined by Q4 CPI, the last key release before the RBA's MonPol
meeting next week. Mkts currently price a ~20% chance of a cut to the cash rate.
- The rate round-tripped from a fresh multi-month low of $0.6737 Tuesday amid
persistent coronavirus worry & as NAB Biz. Conf. Survey showed deterioration. 
- Bears look for a break under the Oct 16 low of $0.6724, with the next
potential layer of support provided by the Oct 10 low of $0.6710. Bulls
cautiously welcome the hammer candlestick charted on Tuesday, typically a
bullish reversal pattern. A jump above the $0.6800 mark (the low of Dec 10 & a
former breakout level) would fuel their hopes, shifting the focus to the former
trendline support at $0.6837.
- The Sydney Morning Herald reported that Australian scientists managed to grow
the Wuhan coronavirus as the first outside China, which is expected to
facilitate works on diagnosis and treatment.
- Later in the week, Australian PPI and private sector credit may provide some
interest on Friday.