Economic wrap: eyes back to the FOMC today - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"The Fed’s labour market conditions index fell in September from -1.3 to -2.2 (vs +1.5 expected). NIFB small business sentiment slipped from 94.4 to 94.1 (95.0 expected), the detail mixed.

German ZEW investor sentiment rose from 55.1 to 59.5 (55.5 expected), but continues to point to a slowdown ahead for GDP growth.

Economic Event Risks Today

Australian Westpac- MI consumer sentiment has been broadly stable in recent months - a little above 100, the optimist/pessimist divide. In October, the RBA remained on the sidelines and the AUD was broadly unchanged; but the ASX200 regained prior period losses.

US Jolts job openings should add further colour on the labour market, while the FOMC minutes are likely to show direction regarding December’s decision. Dudley and George are due to speak."