What are the key event risks coming up? - Westpac

Ross J Burland FXStreet

Analysts at Westpac offered the key event risks coming up.

Key Quotes:

"NZ: PPI in Q1 is likely to rise from a 1.5% annual pace, unsurprising given we already have the Q1 CPI data.

Australia: May Westpac-MI Consumer Sentiment will give the first post-budget read on consumer’s thinking. The index was last at 99.0 in Apr, a surprisingly resilient result given intense media attention on housing concerns and disappointing updates on the labour market. The Q1 wage price index is expected by Westpac to grow 0.5%. This holds annual wage growth at a record low 1.9%yr, with little to suggest subdued growth will change anytime soon. Wage pressures have been particularly soft in the mining sector but are low across all industries.

Euro Area: Apr CPI final should confirm the preliminary read of headline inflation at 1.9%yr, and core inflation 1.2%yr, with the stronger result due to the Easter holidays.

US: The NY Fed’s Q1 Household Debt and Credit Report will provide insight on borrowings, defaults and credit quality across the country. Former Fed Chair Bernanke speaks at an investing conference."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD drops to daily lows near 1.1630

EUR/USD now loses some traction and slips back to the area of daily lows around 1.1630 on the back of a mild bounce in the US Dollar. Fresh US data, including the September PCE inflation numbers and the latest read on December consumer sentiment, didn’t really move the needle, so the pair is still on course to finish the week with a respectable gain.

GBP/USD trims gains, recedes toward 1.3320

GBP/USD is struggling to keep its daily advance, coming under fresh pressure and retreating to the 1.3320 zone following a mild bullish attempt in the Greenback. Even though US consumer sentiment surprised to the upside, the US Dollar isn’t getting much love, as traders are far more interested in what the Fed will say next week.

Gold makes a U-turn, back to $4,200

Gold is now losing the grip and receding to the key $4,200 region per troy ounce following some signs of life in the Greenback and a marked bounce in US Treasury yields across the board. The positive outlook for the precious metal, however, remains underpinned by steady bets for extra easing by the Fed.