AUDUSD hovers around 0.7880, with AUDNZD.....>

AUSSIE: AUDUSD hovers around 0.7880, with AUDNZD last trading at 1.0730 & AUDJPY

84.60 last.

- The currency will be subjected to some risk events at the bottom of the hour,

with the Q4 Wage Price Index headlining. 

- At its most recent meeting the RBA noted that "even though labour market

conditions had improved noticeably over '17, wage growth had remained subdued,"

adding "inflation also remained low, but was expected to increase gradually as

the economy strengthened & wage pressures rose over the forecast period."

- Risks for the release are somewhat asymmetric. A lower-than-expected outcome

could cause a bigger reaction that a higher outcome. Only one economist

(Deutsche Bank) out of 11 in the MNI poll expects a lower-than-forecast rise of

0.4% q/q. While a modest beat may not be a sign that acceleration in wage growth

is finally happening because there are factors that are expected to weigh on

wages going ahead. (See MNI 5 Things on the Main Wire at 22:53 GMT 02/20).

- ANZ note that "AUD does not typically react to the data, however given the

RBA's focus on wages we could see added currency volatility on the release."