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Not a lot of top-tier reports from Australia, which means traders will likely look to risk sentiment for direction.

Which potential catalysts should you watch out for?

I’ve got a list!

Domestic economic updates

  • Australia’s PMIs climb in November
  • Quarterly construction work done (Nov 25, 12:30 am GMT) seen falling by another 1.7% after 0.7% dip in Q2 2020
  • Quarterly private capital expenditure (Nov 26, 12:30 am GMT) could ease from -5.9% to -1.3% in Q3
  • China is one of Australia’s biggest trading partners, so traders will likely price in the industrial profits (Nov 27, 1:30 am GMT) release that’s expected to show a 0.6% from a 2.4% decline in September

Market risk appetite

  • Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle will talk monetary policy on Nov 24, 2:30 am GMT. RBA has dialed down talks of negative rates and concerns over a strong AUD but keep close tabs in case we see market-moving remarks from Debelle
  • Escalation in Australia and China’s trade tensions can factor in AUD’s overall demand this week
  • Stimulus drama between the Fed and Treasury can influence overall risk-taking in the markets
  • Pandemic-related updates (lockdown plans, vaccine prospects, etc) will continue to affect the demand for high-yielding bets like AUD

Technical snapshot

  • Stochastic considers AUD/USD, AUD/CHF, and AUD/CAD as “overbought”
  • AUD/NZD may be “oversold” on the daily time frame
  • GBP/AUD remains in neutral territory
AUD Forex Pairs Stochastic from MarketMilk
AUD Forex Pairs Stochastic from MarketMilk
  • EMAs show AUD’s short and long-term daily trends against the safe-havens, euro, and the Loonie
  • AUD/NZD is on short and long-term bearish trends
  • Watch out for potential retracement or reversal on GBP/AUD
AUD Forex Pairs EMAs from MarketMilk
AUD Forex Pairs EMAs from MarketMilk
  • Like Kiwi, the Aussie has been most volatile against the safe-havens and the euro 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 Nov. 16 – 20!