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Key events ahead: RBA and Aussie in focus - Rabobank

FXStreet (Guatemala) - Analysts at Rabobank noted the key events taking place on a very busy week ahead.

Key Quotes:

"Besides vast amounts of hot air that will be produced at the global climate summit to try to reduce the amount of hot air we all produce, today has German retail sales; UK mortgage approvals; German CPI; India’s Q3 GDP; and the Chicago PMI (consensus: 54.0). However, that’s slim pickings compared with the rest of the week.

Tomorrow we have the December RBA rate decision (where there might have been a sudden need to rewrite some of the statement’s text rather than just copy and paste yet again); China’s official and Caixin manufacturing and services PMIs; an RBI rate decision; the UK manufacturing PMI and BOE’s bank stress test results; German unemployment; the US ISM survey, and the Fed’s Evans speaking. And that’s still just a warm up.

Wednesday sees the RBA’s Stevens speak; Aussie Q3 GDP; the Fed’s Brainard talking on “Lower Neutral Rates”; Eurozone flash CPI for November; Lockhart, Yellen, and Williams all speaking ahead of the Fed’s Beige Book, and ADP employment.

Thursday has the UK services PMI; the ECB’s big decision day (do we see more QE and/or further policy easing?); Yellen testifying to Congress about the economic outlook (remember what I said about US 10-year yields the week before last? They are down from a peak of 2.36% to 2.21% so far this month); and the US services PMI and factory orders.

Friday then has Aussie retail sales; German factory orders; and the final payrolls report before the Fed’s potentially epoch-marking December rate hike. I need a mince pie just thinking about it."

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