Free Trial

Defensive Feel Bites

AUD

AUD/USD probes the water under Thursday's low, as defensive flows materialise in early Asia-Pac trade. The detection of a new Covid-19 variant of concern in South Africa has sparked concerns about potential spread & immunisation evasion, likely undermining broader risk appetite.

  • The rate last sits at $0.7181, down 9 pips on the day. Bears set their sights on Sep 29 low of $0.7170 and a clean break below that level would open up Aug 20 low of $0.7106. On the flip side, a jump above Nov 18 high of $0.7293 would bring Nov 15 high of $0.7371 into play.
  • Australia's retail sales will be published later today. Next week, focus turns to further GDP partials as well as the final growth figures, which will hit the wires on Wednesday. In addition, RBA Dep Gov Debelle will speak on a couple of occasions in the early part of next week.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.