11 Feb 2015
Key events ahead - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, breaks down the key events for the day ahead, highlighting Australian consumer sentiment, Dec housing finance approvals and ongoing Greek funding talks.
Key Quotes
"At 10:30am Syd/7:30am Sing/HK we see the Feb reading on Australian consumer sentiment from Westpac and Melbourne Institute. Sentiment rose 2.4% in Jan but at a headline 93.2, the index is a long way below the 20 year average of 105. The RBA rate cut, weaker AUD and political turmoil should be key factors over the month."
"An hour later we see Dec housing finance approvals. Westpac’s 2% m/m forecast is in line with consensus, with the big 4 banks looking for gains in the 2-4% range. The overall trend has been for loans for existing dwellings to trend lower, with some offset from growing investor demand and finance for construction."
"European finance ministers meet in Brussels to discuss Greece’s situation, listed for 5:30pm local time. The US and Asian calendars are low key."
Key Quotes
"At 10:30am Syd/7:30am Sing/HK we see the Feb reading on Australian consumer sentiment from Westpac and Melbourne Institute. Sentiment rose 2.4% in Jan but at a headline 93.2, the index is a long way below the 20 year average of 105. The RBA rate cut, weaker AUD and political turmoil should be key factors over the month."
"An hour later we see Dec housing finance approvals. Westpac’s 2% m/m forecast is in line with consensus, with the big 4 banks looking for gains in the 2-4% range. The overall trend has been for loans for existing dwellings to trend lower, with some offset from growing investor demand and finance for construction."
"European finance ministers meet in Brussels to discuss Greece’s situation, listed for 5:30pm local time. The US and Asian calendars are low key."