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AUD Looks Out For RBA Speak

AUSSIE

AUD/USD wavered on Monday, but wrapped up on the back foot come the end of play, as broader risk-off flows kept a lid on the pair. Lack of progress in U.S. stimulus talks & global coronavirus situation were to blame.

  • Victoria lifted most of its social restrictions today, amid a steady improvement in the local coronavirus situation.
  • ANZ Weekly Consumer Confidence Index rose to 99.7 in the week through Oct 25, gaining for the eighth consecutive week. The Index sits just shy of the breakeven 100 level and at its six-month high.
  • The rate sits at $0.7121, just 2 pips worse off. A break under Oct 20 low of $0.7021 would bring Sep 25 low of $0.7006 into play. Bulls need a clearance of Oct 23 high of $0.7158 before targeting trendline resistance/Oct 15 high at $0.7169/70.
  • RBA speak draws attention today, with comments from Dep Gov Debelle & Asst Gov Bullock coming up. Later this week, focus in Australia turns to CPI (Wednesday), NAB Business Confidence & terms of trade (Thursday) as well as private sector credit & PPI (Friday).
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