AUSSIE-YEN: AUD/JPY slips as a wider risk-off feel...>

AUSSIE-YEN: AUD/JPY slips as a wider risk-off feel creeps into G10 FX space,

with U.S. equity index futures losing ground. The rate sits -24 pips at Y67.88.

Worth adding that flash CBA PMIs released out of Australia printed fresh record

lows, which may be adding pressure to AUD. CBA described the readings as "an

astonishing result" with "the services sector hit a lot harder than the

manufacturing sector".

- Japan's flash Jibun Bank PMIs also amounted to a dire picture, tumbling to

record lows. IHS Markit noted the "crippling economic impact of the global

coronavirus pandemic" and the "initial impact of Japan's lockdown". The survey

covered 7-21 Apr; Japan introduced state of emergency in some regions on Apr 7

and moved into nationwide emergency on Apr 16.

- A sell-off past Apr 21 low of Y67.29 would encourage bears to target the 23.6%

retracement of Mar 19 - Apr 14 rally at Y67.06. Bulls need a break above the

50-DMA at Y8.48 before setting their sights on Apr 14 peak at Y69.26.

- The focus turns to Australia's preliminary trade data for March.