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20 Nov 2017
Australia and New Zealand's key highlights for the antipodeans - TDS
Analysts at TD Securities noted the key highlights for the Antipodean economies.
Key Quotes:
"Highlights for Australia
- RBA-speak next week, with Q3 work done another key input into Q3 GDP. There are LNG lumps in the data, so we’ll just focus on housing.
- OIS flat at 1.5% through to 50/50 hike priced by October 2018, not surprising with wages and CPI disappointing recently.
- AUD took a step down to $US0.758 on soft wages. Lots of RBA speakers next week could add volatility.
Highlights for New Zealand
- A number of releases next week, with Q3 retail sales and Oct trade balance the highlights.
- OIS is pricing a 25bp hike by November 2018. Too late in our view but until we know who the governor and his/her mandate is ... don’t put dollars to work yet.
- NZD eased all week, a free pass for exporters and upside for inflation. No upside likely next week with a trade deficit and flat retail sales volumes on the cards."