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AUSSIE 10-YEAR TECHS

(Z1) Shallow Bounce

USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

AUSSIE
AUSSIE: ###POV: FUNDAMENTALS, TECHNICALS CONTINUE TO PRESSURE
- Escalating trade wars between the US & China has seen AUDUSD touch 13 month
lows of 0.7347 and could encounter further pressure.
- As commodity prices continue to struggle, Bloomberg's BCOM commodity based
index is nearing 4 month lows. Narrowing yield differentials in the AU-US 10y
are now at historic lows of -26 basis points.
- MNI's FX Technical Signal Monitor is displaying a clean sweep of bearish
signals on an intraday and cloud basis.
- A number of major banks have initiated fresh short AUD positions, further
highlighting the recent move.
- Longer-end risk reversals are now moving lower at such a pace not seen since
the equity meltdown in February, suggesting AUD weakness is not a short-term
trend.
RISK - De-escalation of trade talks could see short, sharp recoveries in high
beta currency pairs.