AUD Weekly Forecast – Countercurrency Trends to Influence AUD’s Moves?

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With no interest rate changes expected from the RBA for the next few years, demand for the Aussie will depend on overall risk appetite.

Planning on trading the Aussie this week?

Here are the potential catalysts that might move the high-yielding comdoll:

No rate changes from the RBA for a while

In case you missed it, Reserve Bank of Australia (RBA) Governor Philip Lowe recently shared that:

Construction work (Aug 26, 1:30 am GMT) could worsen from -1.0% to -6.2% in Q2 2020
Private capital expenditure (Aug 27, 1:30 am GMT) to see faster contraction (from -1.6% to -8.7%) in the same period
China’s annualized industrial profits (Aug 27, 1:30 am GMT) is expected to improve from -12.8% to -6.2% in July

As we’ve seen last week, AUD traders still take cues from major data releases from other economies as well as the overall risk appetite for high-yielding currencies
Escalating tensions between the U.S. and China – especially ahead of this week’s GOP convention – can put a dent on the Aussie’s intraweek uptrends
Rising coronavirus cases in Australia and around the world and their impact on lockdown plans and global growth trends will continue to influence the demand for AUD
Though RBA isn’t expected to make policy changes, AUD traders will look to this week’s Jackson Hole headlines for clues on what tools and concerns major central bankers are looking at for the rest of the year