Key events ahead - Westpac

Analysts at Westpac noted the key events approaching on a data packed day.

Key Quotes:

"Australia’s Q4 GDP data on 2 March kicked off a sustained AUD rally so there is plenty of interest in today’s report (11:30am Syd/9:30am Sing/HK) despite the 2 month wait since end-Q1."

"The official China May manufacturing PMI is out at 11am Syd/9am Beijing. It is expected to tick down to 50.0. The more exporter-focused Caixin survey is out 45 minutes later. This has been running below the official figure but is also expected to be lower in May, down to 49.2. We have Korea May exports as well as Thailand and Indonesia May CPI."

"Consensus is for a fall in US May ISM manufacturing to 50.3 from 50.8. Risks are to the downside though; the Empire, Philly and Richmond Fed surveys all underwhelmed. The Fed’s Beige Book of regional anecdotes is also released."

"NZX futures are pointing to no change in whole milk powder prices at the dairy auction, held during the Lon/NY session."