Outlook: main focus is the RBA minutes - ANZ

Analysts at ANZ explained the outlook for the day ahead and a re-cap of overnight markets.

Key Quotes:

UPCOMING TODAY: The main focus today will be the RBA Minutes (11:30am AEST). We also have the ANZ Stateometer at 9:00am and ANZ-Roy Morgan Australian consumer confidence at 9:30am.

CURRENCY: Currency markets were quiet to start the week. AUD and NZD ground higher with US equities and commodities overnight. GBP was off another 0.3% while EUR climbed 0.2%. Local data should not move AUD today. The market will focus on US data overnight for the next sentiment swing. With the Fed still dovish and global liquidity ample, the hunt for yield still favours AUD over the short-term.

RATES: Global rates markets sold off overnight alongside the rise in oil. The Australian market outperformed and yields should open modestly higher.

COMMODITIES: Oil continues to push higher as talks of a cap on production forces shorts to cover their positions.