Analysts at Westpac explained the key events ahead, besides the RBA meeting, and that the Australia Feb trade balance is due at 11:30am Syd/9:30am Sing/HK. 

Key Quotes:

"Westpac is expecting an improvement in the deficit to $2.6bn from $2.9bn while consensus is at $2.5bn. Export earnings should rise by 1.4%, continuing to unwind the 8.6% slump in the final quarter of 2015. Iron ore prices recovered and LNG volumes expanded. Imports should remain flat. There is increased uncertainty around forecasts as the ABS no longer publishes customs imports data ahead of the trade release.

The RBI also announces its policy decision today. Almost all forecasters expect at least a 25bp reduction in the repurchase rate to 6.5% with some seeing a 50bp cut. Philippines Mar CPI is also out.

In the US, ISM non-manufacturing is seen to bounce back to 54.2 from 53.4, lows since Feb 2014. The NZ GlobalDairyTrade auction will be held as usual during the Lon/NY session. Futures pricing indicate little change."