Economic wrap: data was mixed, key events ahead - Westpac
|Analysts at Wetpac offered an economic wrap while data was mixed.
Key Quotes:
"Data was mixed and of little impact as markets digested European stresses and the US presidential debate US Sep Cons Confrose to 104.1 (pep 99.0) and Markit’s non-Manu PMI’s were firm, but Richmond Fed’s Index remained low (-8 vs expected -2)
UK Sep CBI Retail Sales were weak (-8 vs exp +5) and 2nd tier European data was mixed.
Economic Event Risks Today
Light regional data.
RBA Assist Gov Financial System Edey speaks at AFR Retail Summit.
Westpac–MNI Sep. China Consumer sentiment. Weakness in August (111.5) was in part flood impacted. The Index is now near February 2016’s low and a 9 year low seen in October 2015.
US Aug Durable Goods Orders: a volatile series which is likely fall after July’s spike higher and reflect weak underlying investment trend.
Speakers: FOMC Chair Yellen testifies before House Panel on Bank Supervision.
FOMC’s Bullard; Evans; Mester and George also speak."
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