21st December 2020 - AUD/USD bulls fight to keep pair above 0.7600 despite Sydney Covid-19 concerns


Good Morning,


Market Headlines

Mixed sentiment to round out last week with Wall St closing in the red, with the Dow and S&P closing down 0.4% on the day while the Nasdaq was only 0.1% weaker on the day. In Brexit news, there were reports that significant hurdles remained to reaching a deal. This seemed to keep GBP/USD under a little pressure into the close though it remained above the daily lows. Commodities saw Crude +1.4%, Copper +1.1%, Iron ore +2.2% Gold $1881/oz.


Currency

AUD/USD: 0.7585 – 0.7625

EUR/USD: 1.2226 – 1.2268

GBP/USD: 1.3472 – 1.3556

USD/JPY: 103.20 – 103.59

USD/CAD: 1.2740 – 1.2799

NZD/USD: 0.7111 – 0.7143

AUD/JPY: 78.42 – 78.82

AUD/NZD: 1.0646 – 1.0696


AUD Thoughts

AUD is opening on the backfoot this morning with a test of recent 0.7580/85 lows as currencies react in thin liquidity to weekend news. Look for further interest in this area and then again nearer 0.7540. Offers from the 0.7640 region need to be cleared if we are to keep the topside momentum intact into the Christmas break.


Event Risk Data Today

US – November Chicago Fed National Activity Index

EU – December Consumer Confidence

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