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The Aussie saw serious losses against its counterparts last week. Can the bears sustain the pressure with this week’s potential catalysts?

Quarterly capital expenditure (Feb 27, 12:30 am GMT)

China’s official PMIs (Feb 29, 1:00 am GMT)

  • China will print its first official manufacturing and non-manufacturing PMIs since the Coronavirus outbreak in January
  • Analysts see the manufacturing PMI plummeting from 50.0 to 45.0
  • The non-manufacturing sector could also slip from its 54.1 reading

Market risk appetite

  • Coronavirus-related updates will likely continue to influence demand for the export-dependent AUD
  • Top-tier events like the U.S.’ second GDP reading and Canada’s GDP release can also affect overall risk taking
  • Watch USD’s strength and see if it can continue to drag AUD/USD lower

Technical snapshot

  • RSI, Stochastic, Bollinger Bands, and Keltner Channels suggest that AUD is “oversold” against CAD and USD on the daily time frame

  • AUD has seen the most volatility against JPY, GBP, CHF, and EUR in the last 30 days