Key events ahead: awaiting Stevens - Westpac

Analysts at Westpac noted the day ahead and key events.

Key Quotes:

"RBA governor Stevens speaks at 1:05pm Syd/11:05am Sing/HK at the Trans-Tasman Business Circle. No prepared text is expected, only Q&A. Markets will be looking for any further comments after the minutes last week suggested a lack of urgency on follow-up rate cuts: “Members discussed the merits of adjusting policy at this meeting or awaiting further information before acting.”

In Germany, the ZEW survey is seen to show both the assessment of the current situation and expectations improving slightly to 49 and 12 respectively. Consensus for US Apr new home sales is a rise of 2.3%, remaining near highs since early 2008."