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​Key Week For Data

AUD

AUD/USD broadly flat on the session, a slightly higher open was quickly reversed – the pair last changes hands at 0.7717, around 3 pips higher.

  • AUD/NZD is around 14 pips higher as NZD suffers on the back of coronavirus concerns with the first case discovered in over two months, while in Australia the state of NSW reported no locally transmitted cases for a seventh straight day and internal border restrictions are on the cusp of being lifted.
  • Tensions continue to simmer between Australia and China; Australian PM Morrison said over the weekend he would only agree to talk with Chinese President Xi is there are no conditions.
  • AUDUSD continues to trade below recent highs and within this year's sideways range, The range has defined key directional parameters at 0.7820, the Jan 6 high and 0.7659, the Jan 18 low. The uptrend remains intact. A break higher would confirm a resumption of the underlying uptrend and pave the way for strength towards 0.7885. On the downside, clearance of 0.7659 would instead signal the start of a possible corrective pullback.
  • A busy week of data from Australia. The key release comes on Wednesday when CPI figures are published alongside the NAB business conditions survey. Other highlights include PPI and private sector credit on Friday.
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