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16 Jan 2015
Key events on Friday - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, breaks down the key events for the day ahead, highlighting the US CPI release.
Key Quotes
"A quiet day ahead in Australia and Asia, with the main data releases in Europe and the US. Europe final Dec CPI is due, ahead of the ECB meeting 22 Jan. We are not expecting any change from the -0.2% y/y preliminary print. Core flash CPI was 0.8% y/y."
"Dec CPI for the US will also be released. The Westpac forecast is -0.2%, given the continuing fall in gasoline prices, as well as food pressures abating. The previous headline print was -0.3%. We are expecting core inflation to print at 0.1% again. Our forecast for industrial production is 0%, compared to a 1.3% jump in Nov."
"The last print was driven by autos and a weather-related utilities spike. Weaker auto sales in Dec as well as a softer ISM factory survey suggest a reversal in the Dec IP. We will also see Jan preliminary University of Michigan consumer confidence. We are expecting 92.0 while the market median is 94.1. While gasoline prices were lower, equities were also weaker."
Key Quotes
"A quiet day ahead in Australia and Asia, with the main data releases in Europe and the US. Europe final Dec CPI is due, ahead of the ECB meeting 22 Jan. We are not expecting any change from the -0.2% y/y preliminary print. Core flash CPI was 0.8% y/y."
"Dec CPI for the US will also be released. The Westpac forecast is -0.2%, given the continuing fall in gasoline prices, as well as food pressures abating. The previous headline print was -0.3%. We are expecting core inflation to print at 0.1% again. Our forecast for industrial production is 0%, compared to a 1.3% jump in Nov."
"The last print was driven by autos and a weather-related utilities spike. Weaker auto sales in Dec as well as a softer ISM factory survey suggest a reversal in the Dec IP. We will also see Jan preliminary University of Michigan consumer confidence. We are expecting 92.0 while the market median is 94.1. While gasoline prices were lower, equities were also weaker."