Economic wrap - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"Flash PMI releases tomorrow are likely to have impact on markets as initial barometers of activity in 2017, especially in Europe after firmer than expected data was seen in late 2016.

Economic/Event Risks Today

AU Weekly Consumer Confidence and NZ PSI are decidedly second tier in CPI week

Manufacturing PMIs due for Japan, Euro Area, Germany and US. Service PMIs also due for NZ, Euro Area and Germany.

Central Bank speakers are light, ECB’s Praet does speak (also Villeroy and Lane).

In the US, existing home sales uptrend to moderate further. Coming months will see interest rates impact sales and prices. Also out, Richmond Fed index will likely show conditions remained positive for the region’s manufacturers."