AUD/USD started on the defensive, but........>

AUSSIE: AUD/USD started on the defensive, but trimmed losses since; last trades

-22 pips at $0.5720, extending on its pullback into Thursday's close. Bears keep

an eye on $0.5510, the worst level since 2002 & Thursday's low. The Oct 2002 low

of $0.5403 provides the next support level below. Meanwhile, bulls need a break

above Thursday's peak at $0.5964 to gain some reprieve.

- Australian Treasurer Frydenberg spoke with Sky News this morning, noting that

the gov't is drafting a second stimulus package, "significantly bigger" than the

first one and will focus on shielding SMEs from the impact of the coronavirus

outbreak. He added that Australian banks will unveil some measures to help their

customers later today. The Australian Banking Association's CEO Anna Bligh will

hold a presser at the top of the hour.

- As a reminder, on Thursday the Fed established USD liquidity swap lines with

nine further central banks, including the RBA.

- The Australian docket next week includes flash CBA PMIs (Tuesday) & skilled

vacancies (Wednesday). RBA Asst Gov Kent speaks on Monday.