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16 Dec 2014
Key events coming up; AUD in focus - Westpac
FXStreet (Guatemala) - Sean Callow, analyst at Westpac Banking Corporation noted the remaining key events ahead of us.
Key Quotes:
“The ‘flash’ Dec China manufacturing PMI from HSBC/Markit is due at 12:45pm Syd/9:45am local. This is several days earlier than usual, presumably for marketing purposes given looming holidays, which raises questions about the breadth of this early estimate”.
“AUD is likely to respond to the headline reading, where consensus is 49.8, versus 50.0 for the final Nov survey. This exporter-heavy survey was below 50 from Jan-May 2014, so a sub-50 headline isn’t necessarily significant”.
“The US data highlight is Nov housing starts, expected to roughly reverse the -2.8% Oct drop. The expected 1040k annualized pace in Nov is within the recent range and compares to 2009 lows around 500k and 2005-06 highs well above 2000k”.
Key Quotes:
“The ‘flash’ Dec China manufacturing PMI from HSBC/Markit is due at 12:45pm Syd/9:45am local. This is several days earlier than usual, presumably for marketing purposes given looming holidays, which raises questions about the breadth of this early estimate”.
“AUD is likely to respond to the headline reading, where consensus is 49.8, versus 50.0 for the final Nov survey. This exporter-heavy survey was below 50 from Jan-May 2014, so a sub-50 headline isn’t necessarily significant”.
“The US data highlight is Nov housing starts, expected to roughly reverse the -2.8% Oct drop. The expected 1040k annualized pace in Nov is within the recent range and compares to 2009 lows around 500k and 2005-06 highs well above 2000k”.