Key Events Ahead - Westpac
Analysts at Westpac noted the key events coming up.
Key Quotes:
"Most
forecasters see Bank Indonesia keeping rates at 6.75% though there are a
few calling for a 25bp cut. The Asian calendar is otherwise quiet.
UK
Mar retail sales (ex-autos & fuel) is seen at -0.3% m/m and 3.8%
y/y. Gains in employment and real earnings have been supportive of
spending. The US Apr Philly Fed survey is seen to consolidate and print
at 9 after a sharp bounce to 12.4 last month. Initial jobless claims
should remain very low by historical standards in the week which
includes the April employment survey.
After the flurry of policy
changes at the 10 March ECB Governing Council meeting, some of which
haven’t even been put into place yet, there is no tension over the ECB’s
decision today.
However, there is always interest in President Draghi’s press conference. He seems likely to be asked about topics such as harsh criticism of ECB policy by German politicians, whether the 3 cent rise in EUR/USD since the last meeting means the new policies have backfired and to what extent the latest rise in oil prices changes the inflation outlook."
