AUD – Pivotal period ahead
November 3, 2019
With the FOMC now of the way, the Aussie is set for a busy couple of weeks with a fairly packed calendar headlined by the Retail sales tomorrow, the RBA rate decision on Tuesday 5th and rounding out with Trade Balance and Housing Finance Thursday and Friday. Followed the next week by Wage Price index Wed 13th and importantly Employment Data Thursday 14th. Even with RBA decision in hand this number will be keenly watched especially after the NFP surprise.
As well as having to deal with all this input the battler still has to adjust itself around a strengthening USD which given not masses to sink its teeth into locally will likely continue to focus on Trade war news this week. Given I’m still not convinced there will be a happy ending on that front the USD could shove around a bit as well adding to the difficulty in trading the Aussie.
I have to say I personally still like the Gold and Silver story but even with some pundits still calling them much higher into 2020 and beyond I am a bit gun shy after being flogged around a fair bit recently. For me it’s all about the entry timing and that is a bit tricky right now. Whichever way one might think they will go, given the surrounding “noise” present in the market some creativeness is needed to manage that.