4 May 2015
Key events ahead - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, breaks down the key events for Monday, highlighting the Markit/HSBC PMI in China as the key data risk in Asia.
Key Quotes
"In Australia, we have Mar building approvals out at 11:30am Syd/9:30am Sing/HK. Westpac is forecasting -2.0% m/m, while the market median is effectively the same, at -1.5%. While Feb reversed some of Jan gains, the approvals data remains near record highs, due to large high rise projects. Excluding these, approvals are showing signs of flattening out. There is significant risk of a sharp fall if there is a gap in the pipeline of large projects. We will also see Apr TD-MI inflation gauge and Apr ANZ job ads."
"There are a range of Markit/HSBC PMIS released across the region, including final China Apr manufacturing (11:45am Syd/9:45am local). Japanese markets are closed for Golden Week holidays until Thursday."
"UK markets are closed for a bank holiday. The US calendar is fairly quiet. Mar factory goods orders will be released, however we have already seen durable goods orders. A busy week of Fedspeak starts with Tarullo (governor/centrist), Evans (dove) and Williams (centrist, former dove)."
Key Quotes
"In Australia, we have Mar building approvals out at 11:30am Syd/9:30am Sing/HK. Westpac is forecasting -2.0% m/m, while the market median is effectively the same, at -1.5%. While Feb reversed some of Jan gains, the approvals data remains near record highs, due to large high rise projects. Excluding these, approvals are showing signs of flattening out. There is significant risk of a sharp fall if there is a gap in the pipeline of large projects. We will also see Apr TD-MI inflation gauge and Apr ANZ job ads."
"There are a range of Markit/HSBC PMIS released across the region, including final China Apr manufacturing (11:45am Syd/9:45am local). Japanese markets are closed for Golden Week holidays until Thursday."
"UK markets are closed for a bank holiday. The US calendar is fairly quiet. Mar factory goods orders will be released, however we have already seen durable goods orders. A busy week of Fedspeak starts with Tarullo (governor/centrist), Evans (dove) and Williams (centrist, former dove)."