Australian GDP will be released at 0030 GMT and is the highlight on the calendar. The consensus is for 0.8% q/q growth but the market may be priced for a tick or two lower. If it’s strong or on the upside, inventories will be scrutinized. Investment and consumption will also be key, as usual.
Beforehand, at 2230 GMT, the Australian Industry Group will release it’s performance of construction index for February. The January reading was 39.8 but it’s not much of a market mover.
China’s commerce minister is likely to have some headlines at a press briefing at 0200 GMT and other events at the NPC will be in focus as well.
Tuesday’s session closed out in textbook risk-off fashion:
