Going into the end of the week, AUD/USD was looking to soften up after some solid gains on Tuesday and Wednesday. Then Evergrande made a US$83 million bond coupon payment and market perceptions around risk assets changed course to a degree.
Covid restrictions are easing across Australia with Victoria coming out of one the longest lockdowns in the world. When this happened in Q4 last year, GDP saw a strong pick up.
Commodity volatility has spread with energy prices spilling over into other parts of the commodity complex. Industrial metals rallied hard before easing off into the end of the week.
