10 Mar 2015
Feb Aus NAB business, China CPI eyed - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, breaks down the key data releases for this Tuesday, highlighting the Feb NAB business in Australia and China CPI as the key events.
Key Quotes
"In Australia, the Feb NAB business survey will be released at 11:30am Syd/8:30am Sing/HK. While the conditions index remained steady at +2 in Jan, it showed signs of a soft economy with weak momentum. Confidence was a little below the long term average at +3. The release today should give some indication of whether the weakness in Jan numbers were due to seasonality."
"China Feb inflation numbers are due at 12:30pm Syd/9:30am local. The market forecast is for CPI to tick higher to 1.0%y/y after Jan printed at 0.8%, lows back to 2009. Non-food is still under downward pressure and the housing details will also be of interest. PPI is expected to continue to fall 4.3%y/y as most of the supply chain remains under deflationary pressure."
"The EU finance ministers will meet in Brussels after the eurozone ministers meeting yesterday. The US will see a spate of second tier data, including Feb NFIB small business optimism, Jan wholesale inventories and Jan JOLTS job openings."
Key Quotes
"In Australia, the Feb NAB business survey will be released at 11:30am Syd/8:30am Sing/HK. While the conditions index remained steady at +2 in Jan, it showed signs of a soft economy with weak momentum. Confidence was a little below the long term average at +3. The release today should give some indication of whether the weakness in Jan numbers were due to seasonality."
"China Feb inflation numbers are due at 12:30pm Syd/9:30am local. The market forecast is for CPI to tick higher to 1.0%y/y after Jan printed at 0.8%, lows back to 2009. Non-food is still under downward pressure and the housing details will also be of interest. PPI is expected to continue to fall 4.3%y/y as most of the supply chain remains under deflationary pressure."
"The EU finance ministers will meet in Brussels after the eurozone ministers meeting yesterday. The US will see a spate of second tier data, including Feb NFIB small business optimism, Jan wholesale inventories and Jan JOLTS job openings."