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Australia isn’t printing a lot of top-tier economic reports, but China’s data releases could make price action more interesting for the Aussie bulls and bears.

Planning on trading the comdoll this week?

Here’s a list of potential market movers you need to know about!

Lower-tier economic releases

  • ANZ’s job ads (Dec 7, 12:30 am GMT) to ease from 9.4% to 8.0% November
  • Quarterly house price index (Dec 8, 12:30 am GMT) seen at -0.8% (from -1.8%) in Q3
  • NAB business confidence (Dec 8, 12:30 am GMT) expected to improve from 5.0 to 6.0
  • Westpac consumer sentiment (Dec 8, 11:30 pm GMT) printed at 2.5% in November
  • MI inflation expectations (Dec 10, 12:00 am GMT) inched higher from 3.4% to 3.5% in October

China’s data prints

  • Trade surplus (Dec 7, Asian session) could have narrowed down from $58.4B to $49.6B in November
  • Imports are expected to speed up from 4.7% to 5.2% while exports could have grown by 10% (down from 11.4%)
  • Monthly consumer prices (Dec 9, 1:30 am GMT) to show slower deceleration (-0.1% from -0.3%) in November
  • Annual consumer prices seen at 0.1% after printing at 0.5% in October
  • Producer prices (Dec 9, 1:30 am GMT) to dip by 1.8% after 2.1% decline in October

Overall risk appetite

  • Continued dollar weakness would mean more support for higher-yielding currencies like the Aussie
  • Progress on vaccine approvals, Brexit negotiations, and U.S. stimulus would inspire risk-taking in the markets
  • Easing trade tensions between China and Australia can limit AUD’s losses especially during Asian sessions

Technical snapshot

  • AUD/USD and AUD/JPY are in “overbought” territory
  • AUD may soon hit “oversold” status against CHF, EUR, and CAD on the daily time frame
AUD Forex Pairs Stochastic from MarketMilk
AUD Forex Pairs Stochastic from MarketMilk
  • The Aussie is on short AND long-term uptrends against the dollar, yen, and the pound
  • Watch out for retracements or reversals on EUR/AUD, AUD/CHF, and AUD/CAD
AUD Forex Pairs EMAs from MarketMilk
AUD Forex Pairs EMAs from MarketMilk
  • GBP/AUD, AUD/CHF, EUR/AUD, and AUD/JPY were the four most volatile Aussie pairs in the last week
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. 30 – Dec 4!