Victoria Offers Support To Businesses, Shortens Melbourne Curfew

AUD/USD is biased marginally higher in early Asia-Pac trade, following a firmer open for U.S. equity index futures, but the move has been very limited. The rate last deals +5 pips at $0.7289, holding a 17 pip range.

• Some social restrictions in Melbourne will be eased starting today, which will include a slightly shorter curfew, more time for outdoors exercise and allowing people leaving alone or single parents to have one other visitor.
• Meanwhile, Victoria Premier Andrews announced a A$3.0bn relief package for businesses, which matches the cumulative size of two previous schemes. New support measures will include tax deferrals, fee waivers and cash handouts.
• Researchers from Australian National University found that Chinese investment in Australia nearly halved between 2018 and 2019 amid souring bilateral relations. Last year's figure of A$2.5bn was boosted by the purchase of a baby formula processor Bellamy's for A$1.5bn.
• A move through Sep 10 high of $0.7325 would encourage bulls to set their sights on Sep 3 high of $0.7340. On the flip side, losses past Sep 9 low of $0.7192 would expose Aug 20 low of $0.7136.
• The RBA releases minutes from its most recent policy meeting on Tuesday, quarterly house price data comes out on the same day. The labour market report will be published on Thursday.