MNI BRIEF: US May Existing Home Sales Pace Falls 0.7% To 4.11M

MNI INTERVIEW2: Uninsured Bank Deposits Still Vulnerable-Bair

CANADA APR RETAILS +0.7%, MATCHING FORECAST, PRIOR -0.3%

MNI BRIEF: China Hopes EU To Ease Frictions Via Negotiations

MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 485; GAS RIGS 98

EZ/UK Bond Supply Calendar: EU Auction, BoE APF Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Round Trip

AUSSIE

AUD/USD round tripped from its intraday high of $0.7204 Monday, as a data-light session saw participants assess familiar risks. Reports surrounding research into Covid-19 treatment were weighed against Sino-U.S. frictions. AUD/USD stuck to Friday's range and moved roughly in tandem with DXY.

  • As a reminder, Victorian state government has proposed legislation to enable it to extend state of emergency for another 12 months. ABC noted that while the legislation should be approved by the government-controlled lower house of state legislature, it may face challenge in the upper house, where the government commands 17 out of 40 seats.
  • AUD/USD trades at $0.7165 at typing, virtually unchanged on the day. A break above Aug 21 high of $0.7216 would clear the way to Aug 19/Feb 2019 highs of $0.7276/84. Bears look for a dip through Aug 20 low of $0.7136 before targeting Aug 12 low of $0.7109.
  • Coming up in Australia we have weekly payroll jobs and wages & flash trade balance (today), completed construction work (Wednesday) and private capex (Thursday).
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