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RBA financial stability review eyed - Westpac

FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, reviews the main events ahead for Wednesday, emphasizing the RBA semi-annual Financial Stability Review due at 1.30 GMT.

Key Quotes

"At 11:30am Syd/9:30am Sing/HK, the RBA releases its semi-annual Financial Stability Review. This report is normally ignored by markets and again any reaction on AUD would be a surprise. But there will be plenty of commentary worth noting on Australia’s financial sector such as investor leverage in housing. In particular, there has been a lot of media discussion over whether macroprudential measures might be employed to cool the housing market. Westpac’s view is that the RBA and regulator APRA will not introduce such measures before interest rates increase."

"At 11:45am Syd/9:45am local we see China’s Sep Westpac-MNI consumer sentiment survey. Weakness in this survey in Q2 was a much better leading indicator of the recent softness in official China activity data than the PMIs. The Aug headline index was 113.3, versus as high as 121.2 in May."

"Europe’s data highlight is the Sep IFO survey of German business confidence. Consensus is 105.8 versus Aug’s 106.3 overall, with the current conditions index 110.2 and expectations 101.2."

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