Free Trial

AUD/USD starts the session on a softer.......>

AUSSIE
AUSSIE: AUD/USD starts the session on a softer note as Wuhan coronavirus worry
bites. The spreading disease took its toll on the pair on Thursday, with the
psychological $0.6700 figure limiting the sell-off just ahead of the WMR fix.
WHO's decision to declare a global health emergency raised hopes for intensified
action vs. the virus, allowing the rate to slightly trim losses into the close.
- The pair last sits at $0.6715, 6 pips worse off. The $0.6700 mark remains in
sight and a break here would prompt bears to target the Oct 2 low of $0.6671.
Bulls need to retake the Jan 29 high of $0.6777 before attempting a move at
$0.6800.
- Australian PPI & private sector credit data are due later today; official PMI
metrics out of China will also provide interest. Next week's docket in Oz is
headlined by the RBA MonPol decision, awaited on Tuesday, but apart from that
there is a whole host of data releases coming up.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.