There is final Reserve Bank of Australia's meeting tomorrow, in which the Governor speaks on the economy the next day, just before the release of the GDP for third quarter of this year.

"We still expect the RBA to remain on hold, albeit with an easing bias. This rhymes with the Governor's comments last week, when he answered a question on the cash rate by saying, "We've got Christmas [and] we should just chill out, come back and see what the data say.", says Barclays in a research note.

With RBA likely on hold as already anticipated by the market, the GDP is expectedto rebound, and risk of ECB over-delivering, AUD out-performance is expected versus the EUR, which is recently being highlighted.