Analysts at Westpac offered an outlook for Australia's calendar this week.
"The NAB business conditions index for December is due Tuesday, along with private sector credit, also for December. December figures for building approvals and international trade are due Thursday. We look for building approvals to pare back following the 7.0%mom rise in November. On the other hand, we expect the trade balance to have pushed further into surplus in December on the back of further gains in commodity prices. That said, we also expect to see a pick up in imports.
Overall that leaves us looking for a surplus on the balance of goods and services of AUD1.7bn following the AUD1.2bn surplus recorded for November. RBA Deputy Governor Guy Debelle will make the first public RBA appearance of the year on Monday, although as he is only making opening remarks at an FX industry reception we don't expect his comments to be of significance for monetary policy."
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