Economic wrap: awaiting RBA minutes - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"US NAHB homebuilder sentiment rose from 59 to 65 (vs 60 expected) – the high of the past decade’s range. All regions gained, led by the West.

Economic Event Risks Today

The RBA minutes of the 6 Sep meeting are released, key points of interest being the commentary around housing, labour market and inflation.

Australian house prices (ABS) report is dated relative to other measures, but benefits from the official tag. Private sector surveys showed considerable variation in Q2. The ABS measure is expected to show modest gain.

US housing starts and permits are volatile month to month, but the uptrend should remain intact.

The GDT dairy auction tonight is expected by futures markets to result in a 9% rise in WMP prices."