Economic event risks today - Westpac

Analysts at Westpac offered the key economic event risks for today.

Key Quotes:

"RBA today should remain on hold, as well as for the rest of 2016 pending further information on growth and inflation into 2017.

Australian GDP partials continue with Q2 balance of payments. Net exports should subtract 0.1ppts in Q2 following a 1.1ppt addition in Q1. We expect a small gain for exports offset by rise in imports. For public demand, following a soft Q1, a solid 1.0% gain is anticipated as investment projects progress.

US ISM non-manufacturing survey is likely to show moderate growth continuing in services. A material downside surprise is unlikely, as per the manufacturing survey.

The GDT dairy auction tonight is predicted by NZX futures to result in a rise in WMP prices of around 8%-10%."