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RBA Stevens speech eyed - Westpac

FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, reviews the main events for the day ahead, paying special attention to RBA Governor Stevens speech in the Asian session.

Key Quotes

"RBA Governor Stevens appears at the Melbourne Economic Forum from 12:30pm Syd/10:30am Sing/HK. The forum topic is “Financial System Reform and the Monetary System”, suggesting that Stevens is more likely to touch on themes in yesterday’s Financial Stability Review than address the interest rate outlook. The RBA site says “remarks and panel participation” but media have been advised that Stevens will deliver only the opening remarks, so markets may well move on quickly."

"Asia’s data calendar is quiet but we will see the Taiwan CB monetary policy decision, expected steady at 1.875% but with accompanying commentary of some interest."

"The US data calendar features weekly jobless claims and Aug durable goods orders. The huge surge in aircraft orders in Jul produced a 22.6% m/m spike so consensus is -18% m/m overall, with more interest in the ex-transport total, seen up 0.6% versus -0.7% in Jul. Fedspeak continues with Atlanta Fed president Lockhart, a centrist who returns to the FOMC voting rotation in January."

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