2145 GMT New Zealand Building approvals for December
Building permits data is a volatile data set (as we saw from Australia yesterday)
For the kiwi number today, we get December data
- November was +10.8% m/m
Westpac preview (in brief):
Smoothing through recent month-to-month volatility, consent issuance remains at firm levels. We expect a further modest gain of 2% in December
- We expect that the level of residential building activity will remain elevated for some time. However, we continue to expect that building activity will increase at a gradual pace over the next few years. As we've highlighted for some time, rising costs, as well as difficulties sourcing skilled labour and credit are acting as a brake on activity.
At the same time from NZ we get migration data
2350 GMT - Japan - monetary base data for January
0030 GMT - Australia - PPI for Q4
Producer Price Indexes from Australia for the October to December quarter
- prior +0.2% q.q and +1.6% y/y
0110 GMT - Bank of Japan JGB purchases
- Earlier in the week the Bank increased its purchases in the 3 to 5 year maturities ... which didn't fool anyone. SG summed it up with 'its purely for show'. Quite
- Today, BOJ buying in the 5-10, 10-25 and 25+ years
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