Economic wrap - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"The GDT dairy auction resulted in a 3.0% in all-product prices, and a 3.8% fall in whole milk powder. This disappointed markets which (via futures pricing yesterday afternoon) which had expected a flat result.

Economic Event Risks Today

Australian retail sales are expected to have risen by 0.2% in August (Westpac f/c 0.3%), helped by low interest rates and rising consumer sentiment.

RBNZ Assistant Governor McDermott is speaking on central bank uncertainty at a forum in Melbourne, and his comments will be published.

FOMC member (and voter next year) Evans speaks in Auckland.

Tonight we have a batch of US data including private sector payrolls (ADP)."