The past five days have been one of the quietest periods in recent memory for the Australian Dollar. Ever since 2am Sydney time last Friday morning, the AUD has been stuck on a USD 76 cents big figure and the entire trading range has been from just 0.7636 to 0.7696. We’ve spoken here all week about the liquidation of stale long AUD positions and how the local economic data and Central Bank meeting were too far away for global investors being gripped by the Fed, Bank of England, Bank of Japan and top tier economic releases such as PMI Surveys and the US non-farm payroll report. Finally, we get to see some Australian economic data this morning when building approvals and international trade data are released. The first of these is an unfortunately very volatile number month-to-month so most attention will probably be on the trade numbers. Iron ore volumes are seen steady on the month but there are reports of large coal shipments and some strength in LNG exports and consensus expectations are for a seasonally adjusted monthly trade surplus around $1,200m after +$989m in August and +$808m in July. Though the trade balance feeds directly through into GDP, it’s often a misleading indicator of domestic demand (as its obviously mainly an export story) and the mining and LNG sector is not a huge employer so there’s no strong and immediate link back to spending at home. AUD/USD remains below all four of its main moving averages (20, 50, 100 and 200 day) but at some point this sideways range will be broken, perhaps dramatically. Is it today’s numbers, tomorrow’s retail sales or the RBA meeting which will be the catalyst ?