INSIDE AUSTRALIA: Aussie Dollar Holds 3-Day Drop on China Slump

Australia’s dollar held a three-day drop on concern China’s economy is slowing and more onshore bond defaults will follow Shanghai Chaori Solar Energy Science & Technology Co. *AUD/USD was little changed at 89.68 U.S. cents as of 10:03 am in Sydney from 89.77 yday, having fallen 1.4% since March 6; pivot 89.96, resistance 90.31, 90.85, 91.74; support 89.42, 89.07, 88.18 *AUD/USD 1-mo. implied volatility rises 2bps to 9.45%; past year avg 9.92% *Westpac Banking Corp. and the Melbourne Institute’s index of Australian consumer sentiment for March due at 10:30am in Sydney (100.2 in Feb.); Australia’s home loans for Jan. est. +0.5% MoM (-1.9% in Dec.); Reserve Bank of Australia Deputy Governor Philip Lowe speaks in Sydney at 6 pm *Australia’s 1-yr qtrly swap little changed at 2.658% *Australia’s 10y yield holds at 4.18% *AUD/NZD fetched NZ$1.0604 from NZ$1.0597 yday, when it touched NZ$1.0585, the lowest since Jan. 29 *NZD/USD slid 0.1% to 84.60 U.S. cents from yday. It reached 85.23 on March 7, the highest since Oct. 22

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