Analysts at TD Securities suggest that tomorrow morning Australia’s December quarter terms of trade are released and is going to be the key economic release for the day.
Key Quotes
“For export prices we look for +2.7%/q, with upside risk (mkt +2.7%/q) taking guidance from the RBA’s commodity price index lifting by 3.7%/q.”
“For imports, we expect a balance between a weaker currency and weaker oil prices, and look for a lift of +2.0%/q (cf mkt +0.3%/q). Overall, this implies the terms of trade lifts by +0.7%/q (mkt 2.4%/q) or 3.4%/y.”
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