Key event risks: watching RBA's Kent - Westpac

Analysts at Westpac noted the forthcoming event risks.

Key Quotes:

"Australia:

Westpac’s consumer confidence report for August was in the field during the week to 6 Aug. Developments over the last month look mostly positive for sentiment, including the RBA's decision to leave rates unchanged, the Governor sending a clear signal that rate rises were unlikely anytime soon; a terrorist bomb plot allegedly foiled in Sydney; a strong rally in the AUD; a further modest recovery in the ASX; another solid rise in dwelling prices; a continued improvement in labour market conditions, and lower petrol prices. For June lending data, industry data points to another lift in owner occupier loans, which we expect to be up 1.5%mth. Note that the second round of mortgage rate increases for 'interest only' loans came through late in the month. RBA Assistant Governor Kents peaks at a Bloomberg function in Sydney.

China: CPI and PPI for July are out. Consumer inflation pressures look benign, while upstream prices are being supported by commodity prices.

US: data is again second-tier, wholesale trade and unit labour costs."