- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- Data
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessRemains Under Pressure From Coronavirus Concerns
A stronger greenback once again put pressure on AUD/USD, the pair dropping as low as 0.7392, the lowest since December 2020. The local COVID-19 will likely keep pressure on AUD, the NSW Premier refused to rule out further restrictions over the weekend as case numbers on Saturday rose to 105. The weekend also saw the NSW Premier tighten non-essential & construction work restrictions across Greater Sydney, with some tighter movement restrictions also issued across 3 areas of the city. Major local banks have started rolling out support packages for customers as a result.
- There could be tailwinds for AUD from iron ore, data late on Friday showed Port Hedland iron ore exports rose to the second highest monthly volume ever at 50.4m tons.
- From a technical perspective AUD/USD traded lower Friday and breached support at 0.7410, the Jul 9 low to confirm a resumption of the downtrend. The break lower maintains a bearish price sequence of lower lows and lower highs and the pair is weaker within the bear channel drawn off Feb 25 high. The channel base is at 0.7360. Initial resistance is at 0.7503, the Jul 13 high. Clearance of this level is required to ease the current bearish pressure.
- There is no domestic data on the docket today, markets will look ahead to RBA minutes tomorrow.
To read the full story
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.