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Despite posting a leg lower in Monday's......>

AUSSIE
AUSSIE: Despite posting a leg lower in Monday's Asia-Pac session, AUD/USD
managed to claw back losses later on, finishing the day 20 pips above Friday's
close. The rate moved alongside broader swings in risk appetite, which improved
amid optimism about a potential Covid-19 vaccine developed at Oxford University
& apparent progress in EU leaders' fiscal negotiations.
- PM Morrison & Treasurer Frydenberg will confirm the extension of the JobKeeper
& JobSeeker programmes and outline adjustments to both schemes. After September,
they will be paid at lower rates and eligibility criteria will be stricter.
- AUD/USD trades flat at $0.7018. Above Jul 15 high of $0.7038 opens Jun 10 high
of $0.7063. Bears eye Jul 7/14 lows of $0.6922/21 for initial support.
- RBA rhetoric headlines Down Under today, with Jun MonPol meeting minutes and
speeches from Gov Lowe & Asst Gov Kent due. Their comments will be eyed for
clues on the RBA's stance ahead of Thursday's much awaited economic and fiscal
update from Treasurer Frydenberg.
- Upcoming data highlights include flash retail sales (Wednesday), NAB Biz.
Conf. (Thursday), as well as flash CBA PMIs & flash trade data (Friday).

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