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Risk appetite was bolstered by optimistic....>

AUSSIE
AUSSIE: Risk appetite was bolstered by optimistic results from initial,
small-sample human trials of an experimental Covid-19 vaccine, while oil prices
pushed higher yesterday, resulting in a strong session for AUD/USD. The rate
attacked its 100-DMA, which has kept a lid on gains over the last couple of
weeks, and managed to close marginally above there.
- The rate gained yesterday, even as Chinese Commerce Ministry confirmed in a
statement that Beijing has imposed anti-dumping & anti-subsidy duties on
Australian barley, effective May 19. RTRS reported this morning that Australia
is considering taking the dispute to the WTO, as signalled over the weekend by
Trade Min Birmingham.
- AUD/USD trades flat at $0.6524, with topside focus falling on May 11/Apr 30
highs of $0.6561/70. Above there opens Mar 10 peak at $0.6613. Bears need a fall
through May 15 low of $0.6402, towards May 4 low of $0.6373.
- Minutes from the RBA's most recent MonPol meeting & Australia's payroll jobs &
wages are due today. Skilled vacancies & flash retail sales hit on Wednesday,
while flash CBA PMIs & comments from RBA Gov Lowe come out Thursday.

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