First up today we get an RBA speech (deputy governor Lowe on Recent Economic Developments), due at 2140GMT
Then:
2145GMT - New Zealand - Food Price Index for September, prior was -0.5% m/m
- This can be an FX market mover, for a few spreads at least. Inflation is very low in New Zealand at present and the RBNZ is being looked to for more rate cuts to give it a boost (there are very few tools available to a central bank).
2230GMT - Australia - ANZ Roy Morgan weekly consumer sentiment reading, prior was a small softening to 110.0
0030GMT - Australia - NAB business confidence and conditions for September:
- National Australia Bank business confidence, prior was 1
- National Australia Bank business conditions, prior was 11
The NAB survey will be a focus.
Business conditions gained strongly in the previous survey, from 6 to 11 (its best since late 2009), even during the financial market volatility that month
- Indicative of further improvement in non-mining sectors of the economy, the depreciation of the AUD and persistent low rates both giving a boost
Business confidence in August didn't fare so well, but the results for this survey will include reactions to the replacement of Abbott with Turnbull as Prime Minister. Other surveys (consumer confidence, political polls) have all scored Turnbull much, much higher than Abbott so a similar result will be expected today.
