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The Aussie was at the bottom of the forex heap last week. Can this week’s catalysts turn things around for the comdoll?
Check out the potential market movers that might affect AUD’s prices in the next couple of days:
Consumer and business surveys
- AIG’s services index shows Melbourne lockdown contributing to services decline in August
- ANZ’s job ads show the recovery from pandemic-related job losses NOT continuing in August
- NAB’s business confidence (Sept 8, 1:30 am GMT) to dip from -14 to -18 in August
- Westpac consumer sentiment (Sept 9, 12:30 am GMT) expected to improve from -9.5% to -3.1% in September
- MI inflation expectations (Sept 10, 1:00 am GMT) to remain at 3.3% in September
China’s top-tier releases
- Australia does A LOT of trading with China, so reports that might hint at China’s growth tends to affect AUD’s prices
- Trade data (Sept 7, Asian session) is expected to show a tighter trade surplus as both exports and imports slow down in August
- Annualized inflation (Sept 9, 1:30 am GMT) could slow down from 0.7% to 0.5%, while monthly CPI could decelerate from 0.6% to 0.3% in August
- Producer prices (Sept 9, 1:30 am GMT) seen improving from -2.4% to -1.5% in August
Overall market sentiment
- Disappointing lower-tier releases from other major economies can hint at slower global economic recovery and drag on AUD’s prices
- Economic outlook and short-term policy plans from the European Central Bank (ECB) and the Bank of Canada (BOC) can also influence intraweek trends of the high-yielding Aussie
- Lockdown, vaccine, and stimulus prospects in Australia and from around the world will continue to affect the demand for AUD
Technical snapshot
- Stochastic is flagging AUD’s “oversold” conditions against NZD on the daily time frame
- AUD is about to reach “overbought” status against EUR and CHF
- AUD/CAD remains in neutral territory

- SMAs on the daily time frame show the Aussie’s short-term weaknesses against most of its major counterparts
- Still, AUD is generally bullish across the board

- Like NZD, AUD has seen the most volatility against the safe havens and the euro in the past week

Missed last week’s price action? Read AUD’s price recap for Aug. 31 – Sept. 4!