Key events ahead in Asia and on – Westpac

By FXStreet FXStreet (Guatemala) – Sean Callow, chief analyst at Westpac offered the key events ahead.

Key Quotes:

“BC Taipei reviews monetary policy, with a 12.5bp cut in the 1.75% benchmark rate expected by almost half the forecasters given weak inflation and shrinking y/y GDP. We should see a steady hand (benchmark rates remaining at 4%) from BSP as growth in the Philippines remains strong. There is a small chance of easing from Bank Indonesia from 7.5%. While the rupiah has been more stable in recent months, it may be too soon after the Fed meeting for BI to cut rates. We also see Singapore Nov non-oil domestic exports.

The Germany Dec IFO business survey is expected to hold steady at 109.0 as both current assessment and expectations remain flat. UK Nov retail sales ex auto fuel should rise 0.5%m/m but slip to 2.2%y/y. The strength in the labour market and low rates are boosting spending.

In the wake of the Fed meeting, there will be little attention on US data releases. We have the Dec Philly Fed survey, Q3 current account balance, and initial jobless claims which includes the week of the Dec payrolls.”
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Source:: FX Street