More RBA Speak To Come

AUD/USD had a positive start to the week, as buoyant risk sentiment got a further boost from Moderna's announcement that its Covid-19 vaccine showed a 94.5% effectiveness, per initial analysis of the data from its large clinical trial. Earlier, the Aussie drew support from the finalisation of the RCEP trade deal & the ruling out of a nationwide lockdown by U.S. Pres-elect Biden's team.

• An address from RBA Asst Gov Kent centred around the reform of the LIBOR system. Kent noted that Australian firms have made progress in the transition, but more effort is needed.
• Australian ANZ Roy Morgan Weekly Consumer Confidence improved futher, to 106.6 from 103.1, the 11th gain in a row.
• The rate trades flat at $0.7320 at typing. A break above Nov 9/Sep 16 highs of $0.7340/45 would open up Sep 1 high & bull trigger at $0.7414. Bears look for a dip through the 20-EMA at $0.7216, towards Nov 5 low of $0.7145.
• RBA Nov MonPol minutes, comments from RBA's Debelle & weekly payroll data headline the Australian docket today. Wage price index & a speech from RBA's Lowe come out tomorrow, labour market report hits Thursday & flash retail sales are due Friday.