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Australia won’t be printing tons of economic data in the next few days so y’all better be ready to look at other potential catalysts!

Which events should you watch out for?

Check these out:

Lower-tier economic releases

  • ANZ job ads (Jan 5, 12:30 am GMT) last printed an improvement from 11.9% to 13.9% in November
  • Building permits (Jan 7, 12:30 am GMT) steadied from 16.2% to 3.8% in October
  • The trade surplus (Jan 7, 12:30 am GMT) is expected to tighten from 7.46B AUD to 5.8B AUD in November

Caixin PMIs

  • AUD can see intraday spikes from China’s Caixin PMI releases as China is one of Australia’s largest trading partners
  • Caixin’s manufacturing PMI (Jan 4, 1:45 am GMT) is seen dipping from 54.9 to 54.6
  • Services PMI (Jan 6, 1:45 am GMT) can also slip from 57.8 to 56.9 in December

Market risk sentiment

  • Start-of-year optimism can prop up high-yielding comdolls like the Aussie
  • Volatility around the Jan 5 Georgia Senate runoffs and the Jan 6 U.S. Congress confirmation of Biden’s presidency might cause intraday volatility among the major currencies
  • Vaccine updates will continue to affect overall risk sentiment

Technical snapshot

  • RSI is flagging AUD’s “overbought” conditions against EUR, USD, CHF, JPY, and CAD
  • AUD also looks headed for overbought levels against GBP and NZD
AUD Forex Pairs RSI from MarketMilk
AUD Forex Pairs RSI from MarketMilk
  • Daily SMAs reflect the Aussie short and long-term bullish trends against most of its major counterparts
  • AUD may be seeing short-term weakness against GBP
AUD Forex Pairs SMAs from MarketMilk
AUD Forex Pairs SMAs from MarketMilk
  • AUD saw the most volatility against EUR and the safe-havens in the last seven days
AUD Forex Pairs Volatility from MarketMilk
AUD Forex Pairs Volatility from MarketMilk