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Aussie traders are in for a busy week as they price in top-tier releases that can affect the Aussie’s trends against its major counterparts.

Which events am I talking about here?

Check them out!

RBA’s statement (Dec 1, 3:30 am GMT)

  • After recently cutting its rates and introducing a bond-buying program in the last month, the Reserve Bank of Australia (RBA) is expected to take a chill pill in December
  • RBA’s meeting minutes hinted at the members’ focus on its QE program in the months ahead as well as its reluctance to implement a negative interest rate policy
  • RBA Governor Lowe (Dec 2, 12:00 am GMT) will also testify before the House of Representatives where he might stress that the central bank isn’t out of firepower

Q3 GDP release (Dec 2, 12:30 am GMT)

  • The economy is expected to have grown by 2.4% after a 7.0% drop in Q2 as declining COVID-19 cases made way for more consumer and business activity
  • Annual growth is seen at -4.7% from a -6.3% reading in Q2

China’s PMIs

Overall risk appetite

  • COVID-19 cases, vaccine prospects, and stimulus updates in the major economies will continue to influence the Aussie’s trends in the next few days
  • Australia’s escalating trade tensions with China could inspire intraday losses for the comdoll
  • NFP-related updates, as well as Powell’s testimony, can affect AUD/USD’s trends as well as the overall demand for high-yielding bets like the Aussie

Technical snapshot

  • Stochastic has AUD/USD, AUD/JPY, and AUD/CAD in the “overbought” zone
  • AUD/NZD may be “oversold” on the daily time frame
AUD Forex Pairs Stochastic from MarketMilk
AUD Forex Pairs Stochastic from MarketMilk
  • SMAs hint at the Aussie’s short-term bearish trends against the yen, euro, and the franc
  • AUD/NZD is on a short and long-term bearish trend on the daily
  • AUD is enjoying short and long-term bullish trends against GBP, USD, and CAD
AUD Forex Pairs SMAs from MarketMilk
AUD Forex Pairs SMAs from MarketMilk
  • Like the Kiwi, the Aussie was most volatile against the safe-havens and the pound in the last month
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. 23 – 27!