The main even for today out of Australia is the RBA Minutes from the September meeting.

Oh, if you don't count the political goings on in the capital overnight .... one PM out, a new one in. Commiseration's to Mr. Abbott, and congratulations to Mr. Turnbull! There is around a year until the next scheduled federal election in Australia, and with the election of a new PM last night it will give the government refreshed vigour going into the election. Turnbull will guide the party, and hence the government, more towards the centre of politics,. There should be new, or least different, policy ideas and direction. In the short term the impact on the AUD is minimal, though, domestic and external economic developments are still the driver.

OK, coming up today:

2330GMT - ANZ Roy Morgan weekly Consumer Sentiment for the week ended September 13, prior was 106.7

0130GMT - RBA Minutes for the September meeting.

  • At this meeting rates were left unchanged
  • The accompanying statement contained nothing to surprise us
  • The policy outlook remains data dependent. Some would argue there is still a slight easing bias. If I had to lean one way, it would be that way, there is certainly not a tightening bias. But, the RBA is in wait and see mode while it assesses the impact of recent cuts. The Minutes today are not expected to provide any surprises, but we'll soon see
  • I'll have levels coming up for the AUD soon.

0130GMT also sees the release of 'New motor Vehicle' sales for Australia for August, which is not a market mover ... priors were -1.3% m/m and +3.7% y/y