Australia’s October inflation report is due and if last week’s data is any indicator, we may see stronger consumer price pressures for the month.

Our Event to the October CPI release hints that inflation may have stayed stubbornly high in October. That said, Aussie traders have sold the news after buying the rumors before, so we can’t rule out the possibility that inflation numbers could surprise to the downside.

If the CPI data comes in AUD-bearish, setups in pairs like GBP/AUD and AUD/CHF could favor AUD bears.