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Rebounds

AUSSIE

AUD/USD picked up a bid Wednesday as European & U.S. stock markets regained poise, while a BBG report suggesting that the ECB may show more confidence in its latest economic outlook (to be released today) sapped strength from the greenback. The rate wiped out Tuesday's losses as a result.

  • Victoria's lockdown policies came under fresh attack after the state's Chief Medical Officer Prof Brett Sutton said that the idea of a Melbourne curfew did not come from him. Australian Health Secretary Greg Hunt commented that "we would like to see all and as many of the restrictions lifted as soon as the medical conditions allow".
  • The rate deals at $0.7283, unchanged on the day. A break above Sep 8 high of $0.7309 would clear the way to Sep 3 high of $0.7340. Conversely, a fall through Sep 9 low of $0.7192 is needed to allow bears to target Aug 20 low of $0.7136.
  • Australia will publish its consumer inflation expectation later today.

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