Economic/event risks: some here for AUD/USD traders today - Westpac

Analysts at Westpac explained the up and coming risks events.

Key Quotes:

"AU & NZ: have an absence of data releases, but AU budget reactions will be to the fore.

China: Apr CPI is expected to move to 1.1%yr from 0.9%yr in Mar with inflation set to remain well below target as a bumper crop has seen falling vegetables prices. Core CPI ex food and energy is tracking more steadily at 2.0%yr, consistent with the last two readings. Apr PPI is expected to pull back to 6.7%yr from 7.6%yr due to the surge driven by rising commodity prices beginning to fade.

EU: ECB President Draghi exchanges views on the impact of ECB monetary policy at the Dutch House of Representatives.

US: Fedspeak involves Rosengren providing an economic outlook in Vermont and Kashkari speaks about trust and ethical challenges in the financial services industry."

FXStreet's US session recap:

• Wall Street slips on Tuesday weighed by weak commodities
• Forex today: investors get behind the greenback while odds of a Fed hike increase for June