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19 May 2014
What to expect the day ahead? - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, summarizes today's economic events, noting that the main focus will be on the ECB, with 3 influential members speaking.
Key Quotes
"Australia’s calendar is quiet ahead of Tue’s RBA minutes and Wed’s consumer sentiment and wages data. Asia’s data slate is limited to Japan Mar machinery orders and Thailand Q1 GDP, where political turmoil is expected to produce a fall in activity. Forecasts range from -5% to -1.2% q/q with a median of -2.2%. Thai GDP can be very volatile quarter to quarter."
"The main focus should be on the ECB, with speeches by three influential members today, starting with Bundesbank chief Weidmann at 5pm Syd/3pm Sing/HK, followed in the European morning by two of the Executive Board members, Mersch and Coeure. These will be a test for a speculative market firmly short EUR/USD given spot is down about 3 cents from its pre-ECB meeting highs."
Key Quotes
"Australia’s calendar is quiet ahead of Tue’s RBA minutes and Wed’s consumer sentiment and wages data. Asia’s data slate is limited to Japan Mar machinery orders and Thailand Q1 GDP, where political turmoil is expected to produce a fall in activity. Forecasts range from -5% to -1.2% q/q with a median of -2.2%. Thai GDP can be very volatile quarter to quarter."
"The main focus should be on the ECB, with speeches by three influential members today, starting with Bundesbank chief Weidmann at 5pm Syd/3pm Sing/HK, followed in the European morning by two of the Executive Board members, Mersch and Coeure. These will be a test for a speculative market firmly short EUR/USD given spot is down about 3 cents from its pre-ECB meeting highs."