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Sep 2, 2014
The day ahead – key events happening – Rabobank
FXStreet (Guatemala) - Analysts at Rabobank noted the key events ahead for today.
Key Quotes:
"Today we get Aussie Q2 balance of payments data and net exports contribution to GDP, expected at -0.7% vs. +1.4% in Q1. That’s the warm-up for building approvals (seen +1.9% MoM, +7.8% YoY) and then the RBA decision. Of course, there will be no change in rates, but let’s see if there is further hedging of bets in the last paragraph of the statement – there’s been a clear shift in tone in recent months in a less confident direction".
"We also get US manufacturing PMIs today, final August Markit and then the official ISM. Both will send the message that the sector is booming – but in splendid isolation, as noted above".
"The ECB’s Knot is also speaking later: whether he will touch on the Gordian problems the Eurozone is facing on the economic – and now geopolitical (?) – fronts remains to be seen, but he’s well-named to be doing so".
Key Quotes:
"Today we get Aussie Q2 balance of payments data and net exports contribution to GDP, expected at -0.7% vs. +1.4% in Q1. That’s the warm-up for building approvals (seen +1.9% MoM, +7.8% YoY) and then the RBA decision. Of course, there will be no change in rates, but let’s see if there is further hedging of bets in the last paragraph of the statement – there’s been a clear shift in tone in recent months in a less confident direction".
"We also get US manufacturing PMIs today, final August Markit and then the official ISM. Both will send the message that the sector is booming – but in splendid isolation, as noted above".
"The ECB’s Knot is also speaking later: whether he will touch on the Gordian problems the Eurozone is facing on the economic – and now geopolitical (?) – fronts remains to be seen, but he’s well-named to be doing so".