THIS week, several key US economic indicators are released, including the index of Consumer Sentiment for August on Tuesday, which is expected to come in at a slightly lower level of 97, and Durable Goods orders for August on Wednesday, which are forecast to increase one per cent.
The key indicator for Friday will be second quarter GDP, which is forecast to rise 1.1 per cent.
The main focus for the week, however, will be Tuesday's Federal Reserve meeting.
In Japan, the July diffusion index out on Tuesday is expected to show some improvement. August industrial production, released on Wednesday, is forecast to rise 3.2 per cent, while National CPI for August is forecast at zero per cent.
The big picture out for Australia on Friday will be balance of payments for August. The market expects a figure of less than $2 billion.
Currency outlook: HK$/US$: Moving averages are providing resistance on the daily charts at 7.7380 and traders should sell failures this week, targeting 7.7350 initially then 7.7325 below.
