| The Morning Call|

05-Nov-12 – The lucky currency

4 November 2012 21:00 GMT Betty Rui Wang , Callum Henderson , Chidambarathanu Narayanan , David Semmens , Jeff Ng

  • Top 3 data/events • Philippines – CPI inflation momentum was likely flat • Singapore – PMI likely improved but stayed in contractionary territory • United States – Strong sales imply better ISM non-manufacturing • Market focus • We expect the RBA to cut rates 25bps this week given downside economic risks • Market expectations are mixed for this meeting, suggesting likely volatility around it • We still recommend a short-term Overweight in the AUD, medium-term Underweight
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