In Retreat

AUD/USD dived on Thursday as appetite for riskier currencies waned alongside a broader deterioration in sentiment, amid an equity rout at Wall Street. The rate extended its recent losses, ebbing further away from Tuesday's two-year high.

• PM Morrison will chair a meeting of the National Cabinet today. On the agenda: coming up with a unified definition of a coronavirus hotspot, international arrival caps. The former has emerged as a contentious issue, as the federal government wants to replace the current inter-state border controls with localised lockdown measures, facing resistance from some states and territories.
• AUD/USD has shed 8 pips thus far and trades at $0.7265, testing yesterday's low. A break here would open Aug 28 low of $0.7255, followed by the 20-EMA at $0.7240. Conversely, a move through Sep 1 high of $0.7414 would draw attention to the upper 3.0% 10-DMA at $0.7503.
• Australian retail sales hit the wires today. Looking further afield, ANZ job ads are due Monday, NAB Business Confidence comes out Tuesday, Westpac Consumer Confidence & housing finance data will be released on Wednesday.