15th June 2020 - Depressed above 0.6800 ahead of China data

Market Headlines

Equity markets bounced back into the weekend despite the growing concerns of a second wave of the virus throughout some states. Brent fell 0.5% to $38.75, copper rose 0.5%, iron ore rose 1.6% to $104.85, and gold rose 0.2%. Data/News flow releases were light as US bond yields and risky currencies were range-bound.


The US dollar index closed up 0.6%

EUR ranged between 1.1213 and 1.1340.

USD/JPY rose from 107.20 to 107.55.

AUD ranged between 0.6810 and 0.6910.

NZD ranged between 0.6397 and 0.6477.

AUD/NZD ranged between 1.0635 and 1.0682.

AUD Thoughts

- AUD/USD begins the week with a gap-down opening to 0.6843.

- Risk sentiment remains heavy amid rising fears of the coronavirus second wave.

- The aftershocks of Fed Chair’s pessimism still trouble the traders.

- Aussie PM’s speech, China’s Industrial Production, Retail Sales in the spotlight.

AUD/USD demonstrated late resilience last week to re-establish a 0.68c handle. Additional demand is expected at 0.6800 which should slow any move lower while offering interest is expected to increase between 0.6900 - 0.6920.

Event Risk Data Today

Australia: ABS “Household Impacts of COVID-19 Survey” for May 26-28. The survey basically provide insights into the effects of the coronavirus on jobs, training, time use etc. as restrictions ease. PM speaks at National Press Club

New Zealand: REINZ House Sales y/y, Performance Services Index, Net Migration SA

China: Industrial production (market f/c -3.0%), Fixed Asset Investment (market f/c -6.0%), May Retail Sales

Euro Area: The April Trade Balance

US: June Empire Manufacturing Index expected to recover to -30.0, mirroring the broader improvement in conditions in New York. FOMC’s Kaplan (01:00 AEST) and Daly (02:30 AEST) will speak.

Recent Posts

See All


This material is provided by Navigate Global Payments (Navigate) ACN 615 699 888, AFSL 502711.  The material contains general commentary only and does not constitute investment or any other advice.  Certain types of transactions, like futures, options and high yield securities can be risky, and not suitable for all investors.  This information has been prepared without considering your objectives, financial situation or needs.  Please seek your own independent legal or financial advice before proceeding with any investment decision.  The information is believed to be accurate at the time of compilation and is provided in good faith.  Navigate does not warrant the accuracy or completeness of any information contributed by a third party. The information is subject to change without notice and Navigate is under no obligation to update the information. The information contained in this material are opinions of the author at the time of writing and does not constitute an offer, recommendation to act, a solicitation of an offer, or an inducement to subscribe for, purchase or sell any financial instrument or to enter a legally binding contract.  This information, including any assumptions and conclusions is not intended to be a comprehensive statement of relevant practise or law that is often complex and can change.  Past performance is not a reliable indicator of future performance. Any forecasts given in this material are predictive in character.Navigate Global Payments Pty Ltd nor its related parties or officers accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site.