The Wallabies are smarting from their 33-6 rout by France while England opened their four-Test autumn programme by putting Fiji to the sword 54-12.
The standard of their opposition may have been significantly different, but the bookmakers still view Stuart Lancaster's side as odd-on winners -- and McCabe agrees.
"England are a team who know what they want to do at different stages and they're very effective," he said.
"The Poms would have to be favourites because of the way they played against Fiji.
"They were outstanding while we were extremely poor against France."
McCabe believes stopping opposite number Brad Barritt and his centre partner Manu Tuilagi -- a midfield partnership that values power over guile -- will be key.
"A lot of England's game rolls on from that so as centres we'll have to be really physical to stop them," he said.