2 May 2016
Thin trade for day ahead and events - Westpac
Today is a holiday in key markets including China, Singapore and the UK. Japan is on holiday Tue through Thu so liquidity is likely to be low.
Key Quotes:
"The Australia NAB Apr business survey is out at 11:30am Syd/9:30am Sing/HK, brought forward ahead of tomorrow’s RBA meeting and federal budget. Mar’s outcome was very strong, conditions rising to 12 and confidence to 6. While the services sector was still the main driver of the recovery, the survey suggested the improvements may be becoming more broad-based across the economy.
We see Thailand and Indonesia Apr CPI, as well as manufacturing PMIs for Asia and Europe. US Apr ISM manufacturing is expected to pull back to 51.4 after a rise to 51.8 last month."
Key Quotes:
"The Australia NAB Apr business survey is out at 11:30am Syd/9:30am Sing/HK, brought forward ahead of tomorrow’s RBA meeting and federal budget. Mar’s outcome was very strong, conditions rising to 12 and confidence to 6. While the services sector was still the main driver of the recovery, the survey suggested the improvements may be becoming more broad-based across the economy.
We see Thailand and Indonesia Apr CPI, as well as manufacturing PMIs for Asia and Europe. US Apr ISM manufacturing is expected to pull back to 51.4 after a rise to 51.8 last month."