Aussie holds above 0.7000 ahead of RBA and China PMI data: Nov 2, 2026
The Australian dollar softened below 0.7050 but held above 0.7000 amid a risk-off mood ahead of the RBA policy statement. Attention is on expectations for a fifth rate hike, with 31 of 32 economists tipping an increase while Deutsche Bank expects a hold. Mixed Chinese data also matters for the Aussie, with the official NBS Manufacturing PMI falling to 49.3 in October while RatingDog reported factory output growing at its fastest pace in six months.
Updated
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The day on the wire
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Each tick is a headline first seen that day.
Headlines (15)
First seen on November 2
- JPMorgan joins hike call for RBA’s November meeting, sees tightening bias persistingInvestingLive
- China factory output grows at fastest pace in 6 months: RatingDog PMIInvesting.com
- China Private Manufacturing Gauge Shows Steady Expansion in OctoberThe Wall Street Journal
- Event Guide: RBA Monetary Policy Statement (November 2026)babypips.com
- AUD/USD Price Forecast: Holds above 0.7000; 100-day EMA holds the key ahead of RBAFXStreet
- Deutsche Bank stands alone with RBA hold call as 31 of 32 economists tip a hikeInvestingLive
- RBA and BoE Hikes Largely Priced — Can GBP/AUD Escape Its Six-Month Range?ActionForex
- ‘Sharper, longer slowdown’ predicted for economy as fifth interest rate hike loomsThe Guardian
Carried over from earlier days
- China Economic Activity Loses Steam Sharply in OctoberThe Wall Street Journal
- Economics Week AheadActionForex
- China’s factory and services PMI gauges both drop below 50 as fourth quarter starts on a weak noteInvestingLive
- Economic and event calendar in Asia Monday, November 2, 2026 - another China PMIInvestingLive
- Australia’s factory PMI stuck at 49.6 as new orders drop at fastest pace since 2024InvestingLive
- Australian Dollar softens below 0.7050 on risk-off mood, China's Manufacturing PMI data loomsFXStreet
- China's NBS Manufacturing PMI falls to 49.3 in October, Non-Manufacturing PMI eases to 49.7FXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Monday, November 2 | ||
| MI Inflation Gauge m/m | AUD | |
| Household Spending m/m | AUD | |
| Building Approvals m/m | 1.8% | AUD |
| ANZ Job Advertisements m/m | AUD | |
| Commodity Prices y/y | AUD | |
| Final Manufacturing PMI | 56.0 | USD |
| ISM Manufacturing PMI | 54.5 | USD |
| Construction Spending m/m | 0.4% | USD |