Event risk: a quiet Asia, but what will follow? - Westpac

Analysts at Westpac noted the key events coming up while the Asia-Pacific calendar is low key.

Key Quotes:

"Westpac leading index and Malaysia CPI, ahead of Australia’s March jobs data tomorrow.

UK data risk continues with March CPI. The consensus is 0.3%mth, 2.7%yr, with the core rate 2.5%yr. This is still well above the 2% target, so markets should remain confident of a BoE rate hike on 10 May (85% priced).

The Bank of Canada is expected by almost all economists in the Bloomberg survey to keep its policy rate at 1.25% today, having raised the rate 3 times in the past year. Markets price about a 20% chance of a surprise hike. This could be justified by firm job creation, an uptick in inflation and business sentiment holding up in the face of NAFTA renegotiation.

The Fed’s very chatty week continues with comments from the likes of Dudley and Quarles, plus the Beige Book of regional economic anecdotes."