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The day ahead ebside key Aussie jobs - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Besides the Aussie jobs data, analysts at Westpac explained what the key events are ahead for the day.

    Key Quotes:

    "The Swiss National Bank’s quarterly policy review is due at 4:30pm Sing/HK. The benchmark 3mth CHF LIBOR rate is expected to remain at -0.75% (midpoint of range) and the deposit rate -0.75%. The SNB will have been watching the ECB meeting this month with trepidation but given that EUR/CHF has risen modestly since then and is broadly range-bound, the pressure on the SNB to cut rates further has waned. We should expect reiteration of the line that “The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are intended to ease pressure on the Swiss franc.“

    Bank Indonesia decides on policy. The majority of forecasters now see a 25bp cut to 6.75% as the currency has strengthened. Singapore Feb non-oil domestic exports are seen at -0.8% y/y, up from -9.9% in Jan.

    The Bank of England is expected to keep rates at 0.5% again, the first move not seen till well into the future. In yesterday’s budget, growth in the UK was downgraded to 2.0% in 2016 from 2.4%. In the US, we see the Mar Philly Fed survey, which should show conditions for manufacturing remain weak. Initial jobless claims include the week of the payrolls survey."
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