THE WEEK AHEAD

A relatively subdued week ahead during which addresses will carry more weight than data.

Comments by Reserve Bank of Australia governor Glenn Stevens at an Australian Institute of Company Directors luncheon are sure to gain attention, as is an address to the National Press Club by Bill Gates.

Locally, the latest reads on building approvals and capex will be closely watched.

Of a smattering of AGMs throughout the week, those of Westfield Group and Oz Minerals are likely to be the most significant corporate news.

Offshore, the US dominates data drops, with the latest reads on GDP and consumer confidence set to be released.

Reserve Bank

A relatively quiet week for the central bank, with a double data drop at the end of the week and an address from its governor.

On Monday, Reserve Bank governor Glenn Stevens will be the key speaker at an Australian Institute of Company Directors Leaders’ Edge Lunch. The event will take place in Melbourne and will be moderated by Business Spectator’s Alan Kohler.

On Friday, the central bank will release the April figures on private sector credit as part of the month’s financial aggregates.

Also released will be the bank's latest data on international reserves and foreign currency liquidity.

Local data

The latest reads of capex and building approvals will be the focus of a quieter weak locally.

Wednesday delivers the first-quarter read on construction work from the Australian Bureau of Statistics.

The CBA-Housing Industry Association housing affordability index for the March quarter is also expected.

On Thursday two key reads are set to be released by the ABS: first is building approvals for April, second is capex for the first quarter. Bloomberg expects private new business investment to have increased by 4.5 per cent in the quarter.

Offshore

In a week dominated by United States data, the latest reads on GDP and consumer confidence will be of most interest.

Wednesday will deliver the S&P/Shiller home price index for March out of the US, alongside the latest read on consumer confidence. Bloomberg expects consumer confidence in April to be at 70, up from 68.1 in the previous month.

Elsewhere, Japan will unveil its latest read on retail trade.

On Friday, the US will unveil its gross domestic product for the first quarter. Economists expect the American economy to have expanded by 2.5 per cent in the quarter.

Meanwhile, pending home sales for April are also due out the US, with Bloomberg tipping a 1.7 per cent lift for the month.

The Markit retail PMI is also due out of the eurozone, alongside Japan’s CPI and housing starts for April.

Late on Friday, Japan will release its jobless rate for April. Bloomberg is tipping the rate will fall from 4.1 per cent in March to 4 per cent in April.

Corporate

In an uneventful week for scheduled corporate news, the AGMs of Westfield Group and Oz Minerals will be of most interest.

Tuesday delivers a pair of important annual general meetings: Oz Minerals and Sundance Energy will convene their yearly meetings in Melbourne and Adelaide respectively.

Wednesday is the date payable for Woodside Petroleum, while Westfield Group will hold its AGM in Sydney.

Aristocrat Leisure also releases its interim results.

Thursday is Mirabella Nickel’s turn to convene its annual general meeting.

Elsewhere, National Australia Bank will trade ex-dividend.

On Friday, Yancoal will hold its AGM in Sydney.

Wrapping up

Tuesday will see Victoria University Vice-Chancellor Peter Dawkins speak at a Committee for the Economic Development of Australia luncheon in Melbourne, entitled ‘Higher education: investing in our knowledge economy’.

Elsewhere Grant Fenn, chief executive officer of Downer, will address a Trans-Tasman Business Circle event in Sydney, while Asciano managing director John Mullen will deliver a business briefing to an American Chamber of Commerce in Australia event.

On Wednesday, former finance minister Lindsay Tanner will address a CEDA function in Melbourne. Mr Tanner will speak on the topic ‘After the budget: where to now for economic and fiscal policy?’.

In Canberra, Microsoft founder Bill Gates will address the National Press Club. The speech is titled ‘Smart aid: Australia’s leadership and innovating for the world’s poorest’.

In Western Australia, ANZ Bank head of agribusiness and regional business banking Mark Bennett will join new WA Minister for Agriculture Ken Baston at a CEDA lunch called ‘WA Agriculture – from mining boom to dining boom’.

On Friday, a CEDA lunch in Sydney will discuss ‘Bust before the boom? Investing in Australian agriculture’.