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3 Jul 2015
Key events ahead - Westpac
FXStreet (Guatemala) - Westpac Global Strategy Group noted the key events coming up, including the Greek referendum.
Key Quotes:
"Australia May retail sales is due at 11:30 am Syd/9:30am Sing/HK. Westpac’s forecast of 0.5%m/m is in line with consensus. This would be a decent gain after the disappointing flat result in Apr. There are risks to both sides. Signs of labour markets improving, wealth gains from rising house prices and tourism-related spending are positive. Private business surveys also suggest retailers have seen an improvement. However, the response to the Feb RBA cut was lacklustre and the bounce in May consumer sentiment was fleeting."
"Data calendars are otherwise low key, limited to Malaysia May trade and China Jun services PMI in Asia and UK Jun services PMI in Europe. US markets are closed for the Independence Day holiday."
"On Sunday, we will have the Greece referendum on proposed bailout reforms. Results are likely to come in Monday morning. The Eurogroup is said to plan meeting on 7 Jul and euro area leaders 8 Jul."
Key Quotes:
"Australia May retail sales is due at 11:30 am Syd/9:30am Sing/HK. Westpac’s forecast of 0.5%m/m is in line with consensus. This would be a decent gain after the disappointing flat result in Apr. There are risks to both sides. Signs of labour markets improving, wealth gains from rising house prices and tourism-related spending are positive. Private business surveys also suggest retailers have seen an improvement. However, the response to the Feb RBA cut was lacklustre and the bounce in May consumer sentiment was fleeting."
"Data calendars are otherwise low key, limited to Malaysia May trade and China Jun services PMI in Asia and UK Jun services PMI in Europe. US markets are closed for the Independence Day holiday."
"On Sunday, we will have the Greece referendum on proposed bailout reforms. Results are likely to come in Monday morning. The Eurogroup is said to plan meeting on 7 Jul and euro area leaders 8 Jul."