Risk events ahead: watching RBA - Westpac

Analysts at Westpac noted today's events risks. 

Key Quotes:

"Australia: The March RBA policy decision will be firmly on hold. Recent commentary has been more upbeat with global prospects improving and the Bank reaffirming its forecasts for 3% growth this year and next – a view that would have been supported by the Q4 GDP rebound.Labour markets and housing are the prime focus. On the former, conditions remain mixed with the weakness in household incomes in the Q4 national accounts likely to be of some concern. Against this, the latest resurgence in dwelling prices is clearly a limiting factor for further policy easing.

Eurozone: Q4 GDP final is released with the preliminary data indicating 0.4% quarterly growth, an annual rate of 1.7%yr. The market is not expecting any revisions.

US: Jan trade balance previously showed a solid gain in both exports and imports leaving the Dec trade balance at US$ -44.3. Jan consumer credit is expected to rise to $18 bn from $14.16 bn as auto loans have continued to push ahead."