Aussie Recoups Losses, RBA Minutes Eyed

AUD/USD shed a handful of pips Monday, with the Russia-Ukraine situation stoking further market volatility. Diplomatic efforts to defuse the crisis continued, while Russian President Putin & Foreign Min Lavrov used a staged television address to express support for further talks with the West. Elsewhere, Ukrainian President Zelensky walked back his prediction that Russia would attack on Wednesday, playing down that comment as "sarcastic" and mocking earlier press reports. The choreographed showing from Putin & Lavrov brought reprieve to risk assets, paving the way for AUD/USD to recoup the bulk of its earlier losses.

• The rate last operates at $0.7131, little changed on the day. Topside focus falls on Feb 10 high of $0.7249 and a break here would bring Jan 20 high of $0.7277 into play. On the flip side, losses past Monday's low of $0.7086 would clear the way to Feb 4 low of $0.7052.
• Monthly labour market report, due Thursday, headlines the local data docket during the remainder of this week. Elsewhere, the RBA will publish the minutes from their most recent monetary policy meeting later this morning.