The Aussie dollar is sharply lower against the Asian currencies and back a little on the USD, Sterling and Euro. The AUD found pressure from a number of outside influences. The decision by NZ to remove tax incentives for real estate investment was a major influence, obviously more so for the NZD but it may promote the Australian government to have a closer look at our own subsidy program. The move has the local currency punters expecting to see heavy selling IF the AUD breaches 76c.
Other influences were the announcement of further lockdowns in Europe, “distribution” issues with the vaccine, yeah I guess a vaccine that produced blood clots could be labelled a “distribution” problem, after all blood is distributed around your body.
The Biden factor is expected to play a role, increased leadership in the US. A vaccine program building momentum and moving into their summer could assist in recovery efforts there.
Talk of a slowdown in China will also put pressure on the AUD, and just like that my BHP shares are junk again.

Red wheat bids out of the PNW USA were firmer, corn bids were firmer and white wheat was flat. Shrinking old crop canola stocks in Canada continue to support prices ex farm there. ICE canola futures were softer last night but the spread between old and new crop bids remains very high in Saskatchewan. Canadian canola opening stocks are expected to be very low as producers and traders sell all old crop into the inverse.