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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
AUD Forex Pairs Stochastic from MarketMilk
AUD Forex Pairs Stochastic from MarketMilk
  • 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
AUD Forex Pairs SMA from MarketMilk
AUD Forex Pairs SMA from MarketMilk
  • The Aussie was most volatile against the safe havens and the Loonie in the last seven days
AUD Forex Pairs Volatility from MarketMilk
AUD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read AUD’s price recap for July 13 – 17!