The Australia and New Zealand Banking Group (ANZ) analysts offer a brief insight into the key economic events lined up for release next week.
“AU: We expect retail sales figures for December to be down 0.2% m/m, as evidence suggests consumers brought forward their usual holiday purchases to take advantage of November’s Black Friday sales, contributing to the November spike.
We expect the RBA’s policy rate to remain on hold. While domestic and global data have improved, the gap between the unemployment rate and the RBA’s target remains wide. Lowe’s speech and the SoMP will help markets gauge the policy impact of bushfires or coronavirus.
NZ: We expect Q4 unemployment of 4.2%, with risks broadly balanced. Given recent strength in kiwi yields, any upside surprise is likely to affirm the RBNZ’s patient view of the domestic economy while a downside surprise will add to NZDs recent vulnerability.
US: Modest improvement in manufacturing ISM is expected with regional Fed surveys indicating continued stabilization. No surprises are expected from non-manufacturing PMIs or labor market data.
EA: While sentiment within industrial sectors has shown improvement, factory orders and IP will allow us to assess how confidence is feeding into hard data.
CH: Industrial profits and PMIs data are due out and may provide early clues to the impact of coronavirus on industrial output. It is too early to assess the full impact, as domestic containment and restrictions continue, however, a soft print at this stage would offer more sustained downside to global risk.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.