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Aussie Falters As Delta Prompts ACT To Snap Shut

AUD

Covid headlines pulled the rug from beneath AUD Thursday, as ACT entered lockdown after detecting a Covid-19 case which was infectious while in the community, while the worsening Sydney outbreak inspired calls for tighter restrictions in Australia's largest city. AUD/USD gave up all gains registered the day before as a result.

  • The AFR reported that state premiers will confront PM Morrison at today's federal Cabinet meeting over Sydney's Covid-19 outbreak and NSW Premier's plan to reopen NSW even if daily cases remain high.
  • The Australian docket is virtually empty today, with next week's highlights including RBA Aug MonPol meeting (Tuesday), wage price index (Wednesday) & labour market report (Thursday).
  • AUD/USD changes hands at $0.7341 at typing, marginally above neutral levels. A break above Aug 4/Jul 19 highs of $0.7427/29 would turn focus to Jul 15 high of $0.7487. Downside focus falls on Jul 21 low of $0.7290, the nearby bear trigger.

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