AUD traders heads up - its a huge week ahead for data, also the December RBA meeting
The Reserve Bank of Australia monetary policy decision is on Tuesday December 3 2019.
- announcement due at 0430GMT on Tuesday
I posted a preview via ANZ earlier:
In addition to the RBA there is a plethora of data.
Monday December 2 at 0030GMT
- Building approvals for October - has been very weak but the September data was better
- Inventories for Q3 - an input to the GDP figure for Q3 following later in the week
- Q3 Company Profits - mining profits on the up while elsewhere (non-mining) its tough going
Tuesday 3 December at 0030GMT
- Q3 Current account, this has been helped along by strong exports
- Q3 net exports will be an input to GDP (wait for it …)
Wednesday 4 December at 0030GMT
- Q3 GDP is expected to grow, but not to hit it out of the park. The economy cannot be described as strong with a weak consumer, construction relatively slow, capex not strong either. Exports (more below) are strong.
Thursday 4 December at 0030GMT
- Trade balance for October - more surplus on the way, exports a bright spot for Australia with high prices a bonus
- Retail sales have been lacklustre - consumer confidence is slumping and employment growth most recently has lost momentum, mix in high household debt to the weights on sales. On the plus side, stabilisation in the housing market should be a positive.