Ready to trade the Aussie this week?
Here are lower-tier catalysts that might inspire good intraday moves for the comdoll.
Check them out!
RBA’s meeting minutes (Jul 21, 1;30 am GMT)
- The Reserve Bank of Australia (RBA) kept its interest rates at 0.25% as expected earlier this month
- AUD traded lower but it’s likely more on the news that Australia is re-imposing lockdown restrictions in some states
- Watch out for signs that RBA members are turning more dovish at the prospect of longer lockdown periods
- Governor Lowe will conduct a presser at 2:30 am GMT
Lowe-tier reports
- Westpac leading index (Jul 22, 12:30 pm GMT) to improve from 0.2% to 0.5%?
- Retail sales (Jul 22, 1:30 am GMT) saw a 16.9% jump in May after a 16.3% increase in April
- NAB quarterly business confidence (Jul 23, 1:30 am GMT) plunged from -2 to -11 in Q1 2020
- Markit flash manufacturing PMI (Jul 23, 11:00 pm GMT) seen improving from 51.2 to 54.0
- Markit flash services PMI could inch higher from 53.1 to 53.5 in July
Overall risk appetite
- Coronavirus cases, stimulus and vaccine updates, and lockdown and reopening prospects will still influence the comdolls’ intraweek trends this week
- The People’s Bank of China (PBoC) will update its new loan prime rate (LPR) this week. China’s growth prospects matter a lot to Aussie traders as Australia does a lot of trading with China
- PMI reports from other major economies will give hints on the pace of post-lockdown economic recovery
Technical snapshot
- No Aussie pair has reached oversold or overbought status on the daily time frame yet
- Watch out for AUD hitting “overbought” conditions against USD, CAD< JPY, GBP, and NZD
- The Aussie is above the 5 and 20 SMAs against the pound, yen, Loonie, and Kiwi
- AUD is on a short-term bearish trend against EUR
- Watch out for retracement opportunities on AUD/USD and AUD/CHF
- The Aussie was most volatile against the safe havens and the Loonie in the last seven days
Missed last week’s price action? Read AUD’s price recap for July 13 – 17!
