Their patchy form aside, Aussies have a major worry to deal with as skipper Michael Clarke's long-standing back problem has flared up once again, making him a doubtful starter for tomorrow's match.
The inspirational skipper is a crucial cog in the Australian scheme of things given that his batting form has more often than not been the difference between a win and loss for the team in the past few months.
England, on the other hand, would be looking to flourish in familiar conditions even though they endured an ODI series loss to a rather weak New Zealand just before the Champions Trophy.
But an overall assessment of their ODI stats would reveal that since 2010, England have won 23 and lost only 11 of the 37 matches they have played at home.
A look at the team sheets gives a fair idea of just why the hosts would be the favourites tomorrow.
Australia, a team well past its glory days, is struggling to cope with what has been a tormenting transitional phase.
The side's batting has looked brittle and this frailty was most recently exposed in the warm-up match against India last week when they were bowled out for just 65 runs while a chasing a steep 309.
Given the situation, it would be absolutely vital for Australia that Clarke returns to full fitness as soon as possible.
The team would also be looking at imposing all-rounder Shane Watson to do quite a lot of scoring after a fine IPL stint with the Rajasthan Royals.