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Key events in Asia - Westpac

FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, shares his view for the day ahead, highlighting Australia's construction work done, Westpac-MNI China consumer sentiment survey, and Fonterra's announcement.

Key Quotes

"The first piece of Australia’s Q2 GDP jigsaw is due at 11:30am Syd/9:30am Sing/HK: . Westpac looks for -1% q/q (+1.2% y/y), with acceleration in residential construction likely to be outweighed by the trend decline in private infrastructure construction related to mining. The median forecast is -0.5% after 0.3% in Q1. AUD tends to ignore this report but it is worth watching, ahead of capex tomorrow. Ahead of these releases, Westpac’s GDP forecast is 0.6% q/q, with downside risks."

"The Westpac-MNI China consumer sentiment survey is due at 11:45am Syd/9:45am local. The previous headline reading was 114.8 and as ever we will be digging into the details. Asia’s calendar is otherwise light. The European and US data calendars are also quiet. In NZ, Fonterra has a press conference set for 11:55am Syd/9:55am Sing/HK, which is a “global strategy announcement”, so unlikely to have NZD impact."

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