• Headlining data for US & AU markets are the Core PCE index & AU CPI, respectively.
• Aussie is currently hovering under 66c after bullish momentum boosted the pair last week.
• Expecting the AUDUSD to range between 0.6530 and 0.6620 this week on technical analysis.
• USD likely to remain subdued this week, mainly due to low volatility and low impact data this week.
• The OPEC+ meeting on Thursday can provide some bearish movement to the USD, if the board deliver an unexpectedly large cut to oil production. Conversely, the Aussie will rise.
• The Aussie dollar respected the 66c level last week in conjunction with the weaker USD.
• Local AUD economic data this week, specifically the AU CPI will be the highlight and could provide some temporary bearish momentum movement if the number is lower than the previous of 5.6%.
• We can expect another retest of the 66c level this week, potentially breaking through.
| Economic Calendar: Mon 27th November 2023 – Fri 1st December 2023 (High Impact) (AU/US) | |||||
| Day | Time (AEDT) | Event | Country | Forecast | Previous |
| Tues | 2:30pm | RBA Gov Bullock Speaks | AU | N/A | N/A |
| Wed | 2:00am | CB Consumer Confidence | US | 101.0 | 102.6 |
| 11:30am | CPI y/y | AU | 5.2% | 5.6% | |
| Thur | 12:30am | Prelim GDP q/q | US | 5.0% | 4.9% |
| All Day | OPEC-JMMC Meetings | All | N/A | N/A | |
| Fri | 12:30am | Core PCE Price Index m/m | US | 0.2% | 0.3% |
| Unemployment Claims | US | 219K | 209K | ||
| Sat | 2:00am | ISM Manufacturing PMI | US | 47.7 | 46.7 |
| 3:00am | Fed Chair Powell Speaks | US | N/A | N/A | |
Source: forexfactory.com