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27 Feb 2015
Key events ahead - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, breaks down the key events for the day ahead.
Key Quotes
"Australia Jan private credit will be released at 11:30 Syd. Westpac’s forecast is 0.4%, while market consensus is for Jan to continue to rise by 0.5%m/m and 6.0% y/y. We are expecting business credit to consolidate after growing in the final four months of 2014, while housing credit should continue to increase at a solid pace."
"The calendar in Japan is busy as usual for the last working day of the month. At 10:30am Syd/8:30am local, we will see the national Jan CPI print. Headline is expected to hold at 2.4%, while the forecast for CPI ex-food is to lower from 2.5% to 2.3%, with the sales tax hike base effect still supporting numbers. Jan industrial production will be released 20 minutes later. The market median is 2.7%m/m, domestic demand and order flow stabilising."
"Several Eurozone parliaments are due to vote as soon as today on the Greek loan package. US Q4 GDP should be revised lower from the first estimate of 2.6% to 2.0%, led by investment and trade. Jan pending home sales should see headwinds for the housing market continue. We will also see Feb consumer sentiment and Feb Chicago PMI."
Key Quotes
"Australia Jan private credit will be released at 11:30 Syd. Westpac’s forecast is 0.4%, while market consensus is for Jan to continue to rise by 0.5%m/m and 6.0% y/y. We are expecting business credit to consolidate after growing in the final four months of 2014, while housing credit should continue to increase at a solid pace."
"The calendar in Japan is busy as usual for the last working day of the month. At 10:30am Syd/8:30am local, we will see the national Jan CPI print. Headline is expected to hold at 2.4%, while the forecast for CPI ex-food is to lower from 2.5% to 2.3%, with the sales tax hike base effect still supporting numbers. Jan industrial production will be released 20 minutes later. The market median is 2.7%m/m, domestic demand and order flow stabilising."
"Several Eurozone parliaments are due to vote as soon as today on the Greek loan package. US Q4 GDP should be revised lower from the first estimate of 2.6% to 2.0%, led by investment and trade. Jan pending home sales should see headwinds for the housing market continue. We will also see Feb consumer sentiment and Feb Chicago PMI."