Australian data at 11:30 Sydney time and the quiet hours of the European night

[Shadow Trader]

When Australia releases jobs or inflation numbers, it's usually at 11:30 in the morning Sydney time. For traders in Europe, that falls in the middle of the night. For traders in Asia, it falls in the middle of a live session.

AUDUSD, AUDJPY and AUDNZD react in seconds. The liquidity at that hour is thinner than for a US release, and spreads widen substantially. The first move can be exaggerated relative to the surprise because there are fewer participants to absorb it.

For a scalper in a compatible time zone, the release is an opportunity, with all the usual risks. For one in another zone, it's a reason to check that no positions or pending orders are left open overnight.

Overnight pending orders near Australian data are a classic way to get a bad fill. A buy stop sitting above AUDUSD can be triggered at a poor price in a thin spike that happens while the owner is asleep.

The Reserve Bank's decisions, often announced in the early afternoon Sydney time, bring similar behaviour.

Is there a pair that reliably behaves differently around Australian releases, and has it been traded or avoided?