Key events ahead: Chinese CPI’s in focus – Westpac

By FXStreet FXStreet (Guatemala) – Analysts at Westpac Banking Corporation noted the key events taking place today.

Key Quotes:

“The Oct Westpac-MI consumer sentiment index will be released at 10:30am Syd/7:30am Sing/HK. In Sep the index fell back to 93.9 on weakness global equity markets and concerns around China’s growth. The Oct survey was taken over the week ended Oct 10. While financial markets were volatile, the ASX and AUD recovered from Sep levels.”

“The Fed’s decision not to hike may have had some impact on sentiment, but international factors tend to be overshadowed by domestic, so the change of prime minister in mid-Sep should have a larger effect.”

“At 12:30pm Syd/9:30am local we will see China Sep inflation data. CPI is expected at 1.8% y/y and PPI at -5.9%y/y. These should not be particularly market sensitive, with inflation neither the focus of nor a barrier to PBoC decisions.”

“The UK Aug unemployment rate is expected to remain at 5.5%, lows since 2008. US Sep retail sales should continue to see petrol prices dragging on the measure. Consensus for headline is 0.2%m/m while core (ex auto and gas) is 0.3%. We will also see the Fed’s beige book of regional economic anecdotes, produced ahead of the Oct …read more

Source:: FX Street