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RBC RESEARCH 'The Week Ahead': -..........>

- Tuesday RBA minutes - RBC expect the relatively upbeat themes of the October
statement to be fleshed out further, with more detail on the RBA's thinking on
business investment and conditions as a key topic to watch for as the non-mining
capex outlook improves. The Labour market should receive attention again given
the continues strength of data, discussions on wage growth will likely remain
unchanged assuming on gradual pick up. "The positive global story should stay
consistent with the RBA's narrative of an upturn since late last year, which
ties in with the IMF's October WEO lifting global growth projections for this
year and next by 0.1%"
- Thursday Labour Data: "We are looking for strength to continue as leading
indicators including job vacancies, job ads, and the NAB business survey all
point to another month of robust jobs growth. Last month saw another strong
result with a +54.2k headline increase in jobs for the month and strength in the
detail, with unemployment managing to hold steady at 5.6% despite the
participation rate rising to 65.3%, the highest level since 2012."

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