7 Jul 2015
RBA interest rate decision main event - Westpac
FXStreet (Guatemala) - Westpac Global Strategy Group noted today's focus of key events taking place.
Key Quotes:
"The focus of the Australian calendar will be the RBA meeting at 2:30pm Syd/12:30pm Sing/HK. While the cash rate is expected to remain on hold, markets are watching for signs of a more explicit easing bias. The bank left rates at 2.0% in Jun, with the decision statement containing only a ‘soft easing bias’. While Governor Stevens delivered a clearer easing bias in his Jun 10 speech, this was not repeated in the Jun meeting minutes."
"Newswires will continue to focus on developments in Greece. The Eurogroup meeting will be held at 1pmBrussels ahead of the Euro Summit at 6pm. Germany May industrial production is expected to rise 0.1%m/m after May factory orders yesterday surprised to the upside, coming in at a smaller negative of -0.2%m/m. Consensus for UK May IP -0.2% after a 0.4% print in Apr."
"US May trade balance is expected to show a larger deficit. Exports have likely have normalised after port strikes. The strong US dollar however should continue to weigh on exports."
Key Quotes:
"The focus of the Australian calendar will be the RBA meeting at 2:30pm Syd/12:30pm Sing/HK. While the cash rate is expected to remain on hold, markets are watching for signs of a more explicit easing bias. The bank left rates at 2.0% in Jun, with the decision statement containing only a ‘soft easing bias’. While Governor Stevens delivered a clearer easing bias in his Jun 10 speech, this was not repeated in the Jun meeting minutes."
"Newswires will continue to focus on developments in Greece. The Eurogroup meeting will be held at 1pmBrussels ahead of the Euro Summit at 6pm. Germany May industrial production is expected to rise 0.1%m/m after May factory orders yesterday surprised to the upside, coming in at a smaller negative of -0.2%m/m. Consensus for UK May IP -0.2% after a 0.4% print in Apr."
"US May trade balance is expected to show a larger deficit. Exports have likely have normalised after port strikes. The strong US dollar however should continue to weigh on exports."