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Focus On RBA Minutes In A Data Light Week

AUSTRALIA DATA

It is a quiet week on the data front in Australia and so the focus will be on the RBA minutes due on Tuesday. RBA Governor Lowe and Deputy Governor Bullock have spoken since the decision to pause and given the reasons for it, but the minutes are still likely to be watched for any details on what it will take for the Board to hike again.

  • Also on Tuesday, the CBA’s household spending intentions series for March prints. It has fallen for the last two months but the annual rate has stabilised around 4.5-5%.
  • The Westpac leading index is published on Wednesday. The 6-month measure of this series has fallen for the last 7 months. It leads economic activity compared to trend by 3 to 9 months.
  • On Thursday, the quarterly NAB business survey for Q1 is released. The Q1 average of the monthly survey is up almost 2 points for business confidence but down about 2 points for business conditions. The price and cost measures were all lower in Q1.
  • The preliminary Judo Bank PMIs for April print on Friday. They fell again below the 50-threshold in March.
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