eFXdata reports that analysts at Danske Research discuss AUD outlook. 

"The weakening risk sentiment and the decline in iron ore prices weighed on the AUD yesterday. Australia's rising Covid-cases and lasting lockdowns are starting to be visible in economic data, as although the July unemployment rate fell to 4.6% (from 4.9%), the decline was driven by a drop in labor force participation rate, and the number of full-time employees actually declined."

"The combination of near-term domestic uncertainty and weakening demand outlook for Australia's key export commodities signals further weakness for the AUD," Danske adds."