Economic wrap: Fed speakers dominating again - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"Of the three Fed speakers, Brainard had the most influence on markets. She was more concerned about inflation undershooting than overshooting, seeing the Phillips curve as flat, and a lower neutral rate meaning policy is not as accommodative as thought. She urged prudence in removing accommodation, and while admitting there's been some progress on inflation, her comments were viewed as more dovish than expected by markets.

Economic Event Risks Today

NZ food price data for August is out today but hardly ever moves markets.

Australia’s NAB business survey points to conditions remaining above long run average levels, but AiG surveys indicate risks are to the downside in August

Chinese industrial production; fixed asset investment; and retail sales are all due. Fixed asset investment is the focus, with private sector activity very weak in 2016."