It's the first Tuesday of the Month (and its not January) so that must mean its RBA Day! A day the Reserve Bank of Australia traditionally celebrates by doing nothing (well, since August 2016 at least, the last time we had a cash rate change from the bank).

  • No change to the cash rate is expected today. More below.

On the calendar today ...

2230 GMT - Australia - 'Construction' PMI

Australian Industry Group Performance of Construction Index

  • For October
  • prior 54.7

This is the final PMI for October from Australia, earlier in the month we've had:

2230 GMT - Australia - weekly consumer sentiment data

ANZ Roy Morgan weekly Consumer Sentiment

  • prior 113.4

0000 GMT - Japan - September wages data,

Labour Cash Earnings

  • expected +0.5% y/y, prior +0.7%

and Real Cash Earnings

  • (not so hot), expected -0.2%, prior -0.1%

0001 GMT - UK data - BRC Sales like-for-like for October

  • expected +0.9% y/y, prior +1.9%

0100 GMT - New Zealand - From the Treasury in NZ, their monthly report on the economy

  • Monthly Economic Indicators

0330 GMT - Australia - Reserve Bank of Australia announcement and the accompanying statement from the Governor

I posted up a few previews already

No change to the cash rate is expected, by pretty much anyone (I am sure there is an outlier somewhere, soon to be seen slinking off with tail between legs). Its at 1.5% and looks like it'll be there for quite some time to come. Attention will turn to Lowe's statement in the wake of the disappointing data lately (last week's retail sales results were a shocker). Attention will then turn to Friday's SoMP (statement on Monetary Policy) from the Bank, which will update growth and inflation forecasts. Check out those linked previews for more on this.

--

ps. None of the above is likely to have too much immediate impact on the forex.