THE WEEK AHEAD

A job vacancies update and Metcash earnings headline releases next while abroad US growth and housing figures are the standouts.

A quiet week for Australian economic updates with only job vacancies data out of the ABS and private sector credit figures from the Reserve Bank of major interest.

Offshore, it’s all about the United States with the nation’s March quarter GDP figures due out alongside the June reads on consumer sentiment and confidence, as well as home sales for April.

Elsewhere, speeches from Prime Minister Julia Gillard and shadow treasurer Joe Hockey at CEDA’s State of the Nation event in Canberra will be of note, as will an address from Australian Motor Industry Federation chief executive Richard Dudley to the National Press Club.

Reserve Bank

A relatively quiet week awaits the central bank ahead of next week’s July interest rates decision.

On Friday the RBA will release its financial aggregates for June, with the latest read on private sector credit of most interest. Economists are expecting a 0.3 per cent lift on the previous month.

Local data

A bare week for local economic data sees only one release due out of the Australian Bureau of Statistics.

On Thursday, the ABS will lift the lid on May’s job vacancies figures.

Corporate

Metcash’s full-year earnings will be the biggest scheduled company event of the week, with only a handful of minor AGMs and EGMs also on the radar.

Monday is the ex-dividend date for Dexus Property Group, Sydney Airport and Ardent Leisure Group.

Metcash is also slated to unveil its full-year earnings.

On Tuesday, Water Resources Group and Zingmobile will hold their respective annual general meetings.

On Thursday, Discovery Resources will convene an extraordinary general meeting in Perth to ratify the issue of new shares in the group.

Friday is the date of record for Stockland, Dexus Property Group, Sydney Airport and Ardent Leisure Group.

Offshore

The United States dominates offshore news this week, with virtually no scheduled data due out of China and only a spattering from Japan towards the end of the week

Tuesday delivers the Dallas Fed Manufacturing Index out of the US, with Bloomberg tipping a 5 per cent decline.

On Wednesday, the May read on durable goods orders are due from the US, with economists expecting a 0.9 per cent lift in the month.

New home sales for May are also due out of the US, which are expected to lift by 1.3 per cent, as well as the S&P/Case-Shiller home price index.

Thursday delivers the first-quarter read on America’s GDP. Bloomberg expects a quarter-on-quarter lift of 2.4 per cent.

On Friday, the US will unveil the May data on personal income and personal spending, with Bloomberg tipping a 0.2 per cent lift in the former and a 0.3 per cent lift in the latter.

In Japan, the May reads on CPI, retail sales and vehicle production are due, alongside the Markit/JMMA purchasing managers’ index for June.

From the United Kingdom, first-quarter reads on both GDP and current account balance are due, alongside total business investment for the last three months.

Later on Friday, in the US, the University of Michigan survey of confidence for June will be released.

Wrapping up

On Monday and Tuesday, the Committee for the Economic Development of Australia State of the Nation briefing will be held in Canberra with a focus on ‘Australia adjusting’. On, Julia Gillard will deliver the keynote breakfast address, while shadow treasurer Joe Hockey will deliver the keynote dinner address. On Tuesday, Treasurer Wayne Swan will deliver the keynote breakfast address.

Over the course of the event Productivity Commission chair Peter Harris, ACTU secretary Dave Oliver, incoming country chair of Shell Ian Smith and federal MPs Peter Dutton, Warren Truss, Gary Gray and Ian Macfarlane will all deliver addresses.

Meanwhile on Tuesday, Frances Adamson, Australian Ambassador to the People's Republic of China, will address a CEDA event in Perth discussing China’s economic rebalancing.

In Canberra, Richard Dudley, chief executive officer of the Australian Motor Industry Federation, will address the National Press Club.

In Sydney, NBN Co chief information officer John McInerney will address a Trans-Tasman Business Circle event.

On Wednesday, Foreign Minister Bob Carr will address the National Press Club in Canberra.

On Thursday, Professor Tim Flannery will deliver a climate change update to a CEDA panel discussion in Adelaide.

Friday will see the health ministers of Victoria and New South Wales deliver a health update to CEDA lunches in Melbourne and Sydney respectively.

Elsewhere, Diane Smith-Gander, director of Wesfarmers will address an Australian Institute of Company Directors’ leaders’ edge lunch in Kalgoorlie.

In Sydney, Graincorp chief executive officer Alison Watkins will deliver an American Chamber of Commerce in Australia event.