Economic wrap: Aussie jobs coming up - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"US PPI fell 0.2% in Oct (vs +0.3% expected), for an annual pace of +0.8%, with trade services (a volatile component) largely to blame for the miss. The core measure nudged higher to 1.6%.

Industrial production was flat in Oct (vs +0.2% expected), the stagnation due to a weather-related slump in utilities output. Mining output had its biggest rise in more than two years, while manufacturing also appears to be gradually recovering.

Economic Event Risks Today

Australian employment: it has gone through a soft patch recently but should firm in October with a 25k gain expected. The unemployment rate should tick down to 5.6%.

Momentum in US housing starts has slowed materially, with higher interest rates a risk in a few months. 

US CPI headline inflation is trending higher. Annual core inflation remains above 2.0%, with evidence of underlying pressures.

Chair Yellen will appear before the Joint Economic Committee and will be keenly watched by markets."