Economic Wrap: eyes on FOMC official Mester today - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"The Conference Board’s US leading index rose 0.6% (vs 0.5% expected). This is a minor indicator for markets but it does endorse the improvement in sentiment and economic indicators since the US election. Eight of the 10 components made positive contributions.

Economic Event Risks Today

Eurozone: Feb consumer confidence. Confidence printed -4.9 in Jan which is a high dating back to early 2015. Consumer confidence gained some momentum in late 2016 after a poor start to the year and a downturn around Brexit. Though recent GDP and manufacturing surveys have been more positive, given the ongoing political uncertainty that foreshadows 2017, it is difficult to see the index strengthening much further.

US: A bank holiday today, but FOMC official Mester gives a speech titled “View from the Federal Reserve” at a GIC Central Banking Series event in Singapore."