AUD/USD starts the week on the back foot.....>

AUSSIE: AUD/USD starts the week on the back foot and last sits -36 pips at

$0.6830, as focus has turned to aforementioned factors limiting risk appetite.

Record Covid-19 case counts in several U.S. states & a fresh outbreak in Beijing

provide a source of worry. Meanwhile, the Global Times circulated an article

noting that China might eventually move to restrict Australian iron ore exports

if bilateral tensions escalate. On that same note, a Chinese court sentenced an

Australian man to death for drug smuggling, but Trade Min Birmingham commented

that the ruling should not be viewed as part of escalating bilateral spat.

- Elsewhere, Australian PM Morrison is set to announce a new A$1.5bn

infrastructure spending package as the gov't is trying to revive the economy

after the coronavirus crisis.

- Bears look for a move through Jun 12 low of $0.6800, towards Jun 1 low of

$0.6646. Bulls initially target Jun 11 high of $0.7005.

- Australian economic docket this week is headlined by RBA Jun MonPol meeting

minutes, weekly payroll jobs and wages & Q1 house price index (Tuesday), labour

mkt data (Thursday) and flash retail sales (Friday).