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Posted: 2017-09-23 22:54:00

It’s another quiet week ahead on the data front in Australia, before the next round of key releases starts in October.

Internationally, it’s a busier calendar with multiple central bank speakers and then inflation data for the US and Europe later in the week.

Global markets were broadly unchanged in a relatively quiet session on Friday night, with a mild tone of caution persisting amid the prospect of further weapons testing by North Korea.

New Zealand’s federal election over the weekend was too close to call, with neither the National Party or Labour able to claim a decisive victory, although the incumbent National government has 58 seats – 13 ahead of Labour.

The process for either party to establish a governing majority with the nationalist New Zealand First Party may be as much as two weeks away and the resulting political uncertainty could impact the kiwi dollar when markets open on Monday.

The Aussie dollar bounced back to end the week after getting sold off on Thursday night, and closed Friday’s session at 0.7954 US cents.

Australia

The local calendar is light this week, with the key event most likely to be a speech from RBA deputy governor Guy Debelle at a conference in London on Thursday evening.

Michele Bullock, the RBA’s assistant governor for financial stability, will also participate in a panel discussion in Sydney on Tuesday morning called “Where to from here?”.

Then aside from the usual weekly releases by CoreLogic (house prices) and ANZ (consumer confidence), there’s job vacancy data and private sector credit figures later in the week.

Here’s the Australian calendar this week (via ANZ):

International

Markets will be focused on a wave of central bank speakers to start the week.

ECB President Mario Draghi will make a speech on Monday night, along with three voting committee members of the US Federal Reserve — William Dudley, Bill Evans and Neel Kashkari.

That’s followed by more Fed speakers in the following two days, led by Fed chair Janet Yellen’s keynote address on Tuesday.

On Thursday, the New Zealand central bank will makes its official cash rate decision, with benchmark rates expected to stay on hold at 1.75%.

There’ll also be speeches from Draghi and Bank of England governor Mark Carney at the same London conference where Guy Debelle will be presenting.

On Friday, the focus will turn to inflation. Europe has preliminary data out for core inflation in September, while the US has personal income/expenditure figures for August which include the PCE inflation reading.

The full listing for a busy international calendar this week is shown below (data via ANZ):

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