A light one for the data agenda this session ahead.
2330 GMT Australia - Monthly consumer sentiment
- Westpac's survey for December
- prior +2.8% to 104.3
- this does not tend to be a forex mover but is a useful guide nevertheless! ;-)
Westpac comments on recent results:
- rose 2.8% to 104.3 in November from 101.5 in October, extending a lift from softer reads in the previous three months. Sentiment has held up surprisingly well,
- particularly given the weakness in housing markets.
And, for today:
- December survey ... may be a sterner test for the consumer mood with
- disappointing September quarter national accounts
- further declines in house prices in Sydney and Melbourne
- sharp sell-off in equities
- ... but more positively, a sharp fall in fuel prices (average pump prices down nearly 20%
- since the last survey)
2350 Japan PPI for November
- expected 2.4% y/y, prior 2.9%
- expected -0.1% m/m, prior 0.3%
2350 Japan - Core machinery orders for October
- expected 9.7% m/m, prior -18.3%
- expected 5.0% m/m, prior -7.0%
Also from Japan, due at 0430GMT - Tertiary Industry Index for October
- expected 0.8% m/m, prior -1.1%
I'll come back with more on the Japanese data (what to expect etc) soon, but as anyone who has been in the forex longer than 5 minutes will tell you that despite being good info on the economy these releases tend not to generate yen movement too much.
