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Positive U.S.-China trade updates kept the Aussie afloat for most of last week. Can this week’s list of potential catalysts push the comdoll higher?

Labor market numbers (Nov 14, 12:30 am GMT)

  • Australia’s jobless rate dipped from 5.3% to 5.2% in September
  • A net of 14,700 jobs were added (vs. 15,000 expected) as 26,200 gained full-time jobs while 11,400 lost part-time work
  • Participation rate inched lower from 66.2% to 66.1%
  • Analysts expect a net job addition of 18,000 in October
  • Unemployment (5.2%) and participation (66.2%) rates could maintain their previous readings
  • China is printing a bunch of top-tier reports during the same trading session, so AUD’s reaction to the report could be limited

China’s data dump (Nov 14, 2:00 am GMT)

  • Retail sales accelerated from 7.5% to 7.8% from a year ago in September
  • Analysts expect to see another 7.8% gain in October
  • Annualized industrial production jumped from 4.4% to 5.8% in September. Unfortunately, the strength was eclipsed by a disappointing quarterly GDP printed on the same day
  • A 5.5% growth is seen for the report this week
  • Fixed asset investment dipped from 5.5% to 5.4% in September
  • Market players expect the report to hold its 5.4% increase in October
  • Depending on the significance of data hits or misses, China’s data dump could dictate market sentiment for the trading session, if not the trading day

Technical Snapshot

  • AUD/CHF, AUD/CAD, AUD/JPY, and AUD/USD are all trading below their 200 SMAs but above their 50 SMAs. Look out for potential retracements or signs of longer-term reversals.
AUD MAs from MarketMilk
AUD MAs from MarketMilk
  • AUD gained the most against EUR, NZD, CHF, and GBP last week…
AUD 7 Day Performance from MarketMillk
AUD 7 Day Performance from MarketMillk
  • But is registering heavy losses against NZD, GBP, and CHF so far today. Is AUD giving back its gains from last week?
AUD Performance from MarketMillk
AUD Performance from MarketMillk

Missed last week’s price action? Read AUD’s price recap for November 4 – 8!