Reserve Bank minutes and Joe Hockey's Press Club address will make economic headlines, while Myer, Ruralco and Elders update the market.

The Reserve Bank will be the focus for investors this week, with the minutes of the May board meeting set to be released.

Private surveys will step up to fill a void of releases from the Australian Bureau of Statistics, with the Westpac/Melbourne Institute Consumer Sentiment Index for May the most notable.

Shadow treasurer Joe Hockey’s address to the National Press Club in response to the federal budget will also be a highlight.

On the corporate front, a third-quarter trading update from retail giant Myer is due, along with interim results from Ruralco and Elders.

Offshore, comments from Federal Reserve chairman Ben Bernanke will be of interest, as will the minutes of the most recent FOMC meeting.

Reserve Bank

Tuesday will see the release of the minutes of the central bank’s May board meeting. All eyes will be on the statement after a surprise 25 basis points rate cut lowered the official cash rate to its lowest point in more than half a century.

Local data

Wednesday will deliver the Westpac/Melbourne Institute Consumer Sentiment Index for May, alongside the Department of Education, Employment and Workplace Relations Skilled Vacancy report.

On Thursday, two key reads are expected from the Melbourne Institute – surveys of unemployment and inflations expectations.

Elsewhere, Tasmania will release its state budget for 2013-14.


A trading update from Myer will be the focus of company news this week, however the interim results of Ruralco and Elders will also garner scrutiny.

Tuesday will see Leighton Holdings convene its annual general meeting.

Elsewhere, Ruralco and Elders will release their respective half-yearly reports.

Wednesday will see department store giant Myer release a third-quarter trading update.

On Thursday, Fisher and Paykell will unveil its full-year earnings as James Hardie lifts the lid on its fourth-quarter sales results.

Friday will see both Invocare and Panterra Gold convene their respective annual general meetings in Sydney.


On Tuesday, the April consumer price index is due out of the United Kingdom.

Wednesday delivers Japan’s trade balance for April, along with the most recent monetary policy statement out of the Bank of Japan.

In the UK, the Bank of England will release the minutes of its May board meeting.

Thursday delivers HSBC’s flash manufacturing purchasing managers’ index for May out of China, alongside Markit flash PMI for the month out of the eurozone.

In the US, the Federal Reserve will release the minutes of its most recent monetary policy meeting, while chairman Ben Bernanke will also give testimony on the economy.

Meanwhile, in the UK figures on first-quarter GDP and total business investment are also set for release.

Friday delivers new homes sales figures for April out the United States.

Wrapping up

Monday will see Senator Arthur Sinodinos and Telstra’s head of diversity and inclusion, Troy Roderick, take part in the Committee for Economic Development of Australia’s ‘Women in Leadership’ series. The Sydney luncheon will focus on ‘ambitious workplace flexibility’.

Elsewhere, Department of Foreign Affairs and Trade secretary Peter Varghese will discuss Australia's Trade and Foreign Policy Priorities at a CEDA event in Perth.

On Tuesday, Victorian Treasurer Michael O’Brien will deliver a post-budget address to CEDA members in Melbourne.

Elsewhere, ASX Limited chief risk officer Alan Bardwell will address a Trans-Tasman Business Circle event in Sydney.

On Wednesday, Shadow Treasurer Joe Hockey will address the National Press Club of Australia in the Great Hall, Parliament House, Canberra. Hockey will be responding to the federal government’s May budget.

Elsewhere, Toll Group chief information officer Wayne Gordon will address a Trans-Tasman Business Circle event in Sydney.

Thursday will see GrainCorp chief executive officer Alison Watkins take part in the CEDA ‘CEO Vision series’ in Sydney. Watkins will discuss Australian agribusiness and the importance of capturing the global food boom.

Elsewhere, CEDA will convene a vice chancellors’ panel in Brisbane featuring seven VCs from around the state. Meanwhile in Melbourne, shadow federal health minister Peter Dutton will be the special guest at an Australian Institute of Company Directors healthcare breakfast.

Friday will see Nestle Australia and Bank of Melbourne chairman Elizabeth Proust and managing director of IBM Australia and New Zealand Andrew Stevens take part in CEDA’s ‘Women in Leadership’ series. The Melbourne luncheon will address the question ‘Is change possible?’

Elsewhere, Australia Post chairman John Stanhope will address the AICD’s Warrnambool Leaders' Breakfast.

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