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Victoria Continues To Ease Restrictions, Focus Turns To Chinese Data

AUSSIE

AUD/USD has wavered within a 17 pip range at the start of the week, happy to respect Friday's extremes so far. The rate last sits +8 pips at $0.7089, with participants awaiting China's GDP & activity data, due later today.

  • Victoria has further eased its coronavirus restrictions and pressure is mounting on Premier Andrews to accelerate the re-opening, after the state's daily Covid-19 case count has been printing in single digits.
  • Bulls see Oct 15 high of $0.7170 as initial resistance and a break here would clear the way to a descending trendline, intersecting at $0.7201. On the flip side, a dip through Oct 15 low of $0.7056 would expose Sep 28 low of $0.7029.
  • The RBA will release the minutes from its Oct MonPol meeting on Tuesday & weekly payroll data comes out . Looking further afield, flash retail sales come out Thursday, while flash CBA PMIs hit the wires Friday. In addition, RBA's Kent speaks Tuesday & Debelle speaks Thursday.
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