AUSSIE-YEN: AUD/JPY remains heavy after Apple........>

AUSSIE-YEN: AUD/JPY remains heavy after Apple suggested that they probably won't

meet Q1 sales & revenue forecasts as the Covid-19 outbreak is weighing on demand

for the company's products, while the resumption of work in China takes more

time than expected. Apple's statement poured fuel on fire as the economic impact

of the novel coronavirus is under scrutiny.

- The RBA's Feb meeting minutes applied some modest additional pressure to AUD

as they mentioned the risk to Australian economy posed by the coronavirus,

revealing that members deemed it "material." 

- Little else to report on domestic matters in either Australia or Japan. Aussie

weekly consumer confidence gauge from ANZ/Roy Morgan ticked ever slightly

higher, while Japan's Health Minister Kato said that a complete disembarkation

from the Diamond Princess cruiser is expected to wrap up on Feb 21.

- The rate operates at Y73.42, 35 pips lower on the day & off lows. The low of

Feb 10 at Y73.03 is in sight and a drop below there would expose the Feb 3

multi-month low of Y72.42. On the flip side, bulls look for a rebound above the

Y74.00 mark before setting their sights on the 200-DMA/Feb 12 peak at Y74.29/30.