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30 May 2014
Key events on Friday - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, walks us through the main events to bear in mind for this Friday.
Key Quotes
"Australia’s data calendar is limited to Apr private credit, not a market mover. Japan’s end-month data flurry takes place at 9:30am Syd/7:30am Sing/HK and 20 minutes later, with CPI expected to be boosted to above 3% y/y by the April consumption tax increase but Apr industrial production likely to weaken sharply. Thailand releases Apr trade data but more interest will be in India’s Q1 GDP (due in London trade), with consensus 4.7% y/y. This would continue the sluggish pace of growth since mid-2012 but hopes are high for an acceleration under the new government."
"The US data calendar highlights should be the Apr reading on the Fed’s preferred inflation measure, the core PCE deflator and the May Chicago PMI. Consensus on the deflator is 1.4% y/y from 1.2% in Mar, which if confirmed would reassure the Fed that it is on the right track. The Chicago PMI is usually well above other regional surveys, with May expected to be no exception, at 61.0 after the booming 63.0 in Apr. Apr personal income and spending should rise."
Key Quotes
"Australia’s data calendar is limited to Apr private credit, not a market mover. Japan’s end-month data flurry takes place at 9:30am Syd/7:30am Sing/HK and 20 minutes later, with CPI expected to be boosted to above 3% y/y by the April consumption tax increase but Apr industrial production likely to weaken sharply. Thailand releases Apr trade data but more interest will be in India’s Q1 GDP (due in London trade), with consensus 4.7% y/y. This would continue the sluggish pace of growth since mid-2012 but hopes are high for an acceleration under the new government."
"The US data calendar highlights should be the Apr reading on the Fed’s preferred inflation measure, the core PCE deflator and the May Chicago PMI. Consensus on the deflator is 1.4% y/y from 1.2% in Mar, which if confirmed would reassure the Fed that it is on the right track. The Chicago PMI is usually well above other regional surveys, with May expected to be no exception, at 61.0 after the booming 63.0 in Apr. Apr personal income and spending should rise."