Event risks: RBA's SoMP and nonfarm payrolls - Westpac

Analysts at Westpac offered the Economic Event Risks fpr the day ahead.

Key Quotes:

"AU: Statement of Monetary Policy. The RBA is unlikely to change forecasts in the August SoMP. Inflation, the labour market, and global risks will be in focus.

US: Non-farm payrolls. We expect Nonfarm payrolls to rise 185k in July (median estimate is 180k) following a strong June rebound. The unemployment rate is likely to be unchanged at 4.9%, although the risk is that it edges down to 4.8% on lower participation."