Greetings once again. I posted the early price indications and thanks to the magic of Disqus I managed to get the image of the cross rates and so on uploaded also. Check it out here if you want to see where we opening for the week.
Scroll down a bit for the image
OK .... data due from Australia today ...
0030GMT - TD Securities Inflation/Melbourne Institute (MI) Inflation Gauge for April
- For the m/m, prior was +0.4%
- For the y/y prior was +1.5%
The TD Securities/Melbourne Institute (MI) Inflation Gauge is a privately produced inflation gauge. We only get the official data (from the Australian Bureau of Statistics) once every 3 months, so this measure does garner attention in the market. The latest official inflation data (iIt's the 'trimmed mean' to take a good look at ... at 2.3% its within the 2 - 3% target range for the RBA) gives the RBA scope to ease. But note, the RBA rate decision, due on May 5, is going to depend on their outlook for inflation, not the historical data.
0130GMT - Building approvals for March - the focal point of the data from Australia today
- expected is -1.5% m/m and +16.7% y/y
- prior was -3.2% m/m and +14.3% y/y
While we are getting a dip on the m/m for this series the y/y results have been very strong
0130GMT - ANZ Job Advertisements for April
- prior was -1.4%
Also relevant to the Australian markets today (and of wider significance too), we get the HSBC China manufacturing PMI today (due at 0145GMT) - expected is 49.4, flash was 49.2, prior was 49.6
