- AIG Manufacturing Index: Sunday, 21:30. The Australian Industry Group indicator has indicated contraction for the past two months, with readings below the neutral 50-level. In September, the indicator slowed to 46.7, its lowest level since May. Will we see a reading in expansion territory in October?
- MI Inflation Gauge: Monday, 00:00. The Melbourne Institute indicator is pointing to low inflation, with two straight readings of 0.1%. Will we see an improvement in the upcoming release?
- Building Approvals: Monday, 00:30. This construction indicator has managed only one gain in the past six months. Better news is expected in September, with a forecast of 1.5%.
- Chinese Caixin Manufacturing PMI: Monday, 1:45. The official Manufacturing PMI came in at 51.4, almost unchanged from the previous release of 51.5. The Caixin PMI is projected to show slight expansion, with a forecast of 52.9.
- RBA Rate Decision: Tuesday, 3:30. The RBA has pegged the Cash Rate at 0.25% since March, but has sent broad hints to the markets that it plans to trim rates. Analysts expect the central bank to pull the trigger this week and cut rates to 0.10%. Investors will also be interested in the rate statement, which will provide details on the central bank’s view of the economy.
- AIG Construction Index: Tuesday, 21:30. The construction sector remains mired in contraction territory. Still, the reading of 45.7 in September was the highest figure since March 2019. Will the upswing continue in October?
- Retail Sales: Wednesday, 00:30. Retail sales have contracted for three successive months, as apprehensive consumers have cut back on spending. A decline of 1.5% is projected for September.
- AIG Services Index: Thursday, 21:30. The index slowed to 36.2 in September, down from 42.5 beforehand. This points to sharp contraction. We now await the October data.
- RBA Policy Monetary Statement: Friday, 00:30. This statement will provide investors with an additional look at the bank’s view of economic conditions and inflation. The release will carry added significance, coming right after the RBA rate decision.
- All times are GMT
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AUD/USD Technical Analysis