Event risks ahead - Westpac

Analysts at Westpac noted the forthcoming event risks for the day ahead.

Key Quotes:

"Australia: Feb AIG services PMI fell 3.2pts in Jan to 54.5, a moderate pullback from the uptrend over the last 4 months which sees it still sitting firmly in the 50+ expansion zone.

China: Feb Caixin services PMI eased back in Jan to 53.1 from 53.4 in Dec. The Feb NBS Services PMI has already been released and indicated a drop from 53.5 to 53.2.

Eurozone: The Feb Markit services PMI flash estimate reached a 69 month high of 55.6 from 53.7 in Jan. The final release should provide more insight around the current strong employment and confidence readings.

US: Fed Chair Yellen's speech in Chicago will receive a lot of attention following hawkish remarks by Dudley, Williams and Brainard this week and given March FOMC is only a week and a half away. Fischer, Evans and Lacker also speak at a monetary policy forum, Mester on leadership. Data includes the Feb Markit services PMI after the flash showed a slowing in momentum to 53.9 from 55.6 as the employment and outlook sub-indices declined. Feb ISM non-manufacturing index has seen strong readings in recent months with Jan at 56.5 showing robust growth in activity and new orders."