The latest read on Australian unemployment will be the key market mover in a busy week for local data. Also set for release is NAB’s monthly survey of business confidence and the May read on housing finance.
The Reserve Bank of Australia’s assistant governor Guy Debelle will speak in Sydney for the launch of the ‘Funding Australia's Future Project’.
Addresses by federal Resources Minister Gary Gray and Treasury Secretary Dr Martin Parkinson will be of interest.
And offshore, the latest read on China’s trade balance as well as the minutes of the US Federal Reserve’s June meeting will be closely watched.
The June read on unemployment will be the focus of domestic data in a busy week.
Monday will deliver the June read of ANZ’s job advertisements series.
On Tuesday, National Australia Bank will release it survey of business confidence and conditions for June.
Wednesday brings with it the Melbourne Institute/Westpac Consumer Sentiment Index for July, with economists expecting a slightly more optimistic read.
Thursday will easily be the biggest day of the week in economics, headlined by the ABS’s release of June labour force data. The unemployment rate is tipped to lift to 5.6 per cent, while 10,000 jobs are expected to have been created in the month.
Elsewhere, the Melbourne Institute/Westpac expectations for unemployment and inflation for July will be released.
On Friday, the ABS will release housing finance figures for May. Economists expect lending will have lifted by 2.3 per cent.
It's a quiet week for the central bank, following last week’s monthly board meeting. The Reserve Bank board held the cash rate at 2.75 per cent, saying “the inflation outlook, as currently assessed, may provide some scope for further easing”.
On Wednesday, assistant governor Guy Debelle will address the launch of the ‘Funding Australia's Future Project’ hosted by the Australian Centre for Financial Studies in Sydney.
A quiet week too on the corporate front, with a handful of EGMs to garner the most focus.
On Monday, Callabonna Resources will hold an extraordinary general meeting in Melbourne.
Tuesday will see Forest Place Group convene an EGM in Sydney, where shareholders will vote on a proposal to change the group’s name to Aveo Healthcare.
On Thursday, Forge Group will hold its annual general meeting.
China’s trade balance and the minutes of the latest FOMC meeting out of the US will be the focus abroad.
Monday will see Japan unveil its current account balance for May.
On Tuesday, China’s producer price index and consumer price index will paint a picture of the state of inflation in the Asian nation in June. Bloomberg analysts expect CPI to rise to 2.6 per cent, while PPI is tipped to come in at negative 2.5 per cent.
Elsewhere, the May read on consumer credit is due out of the United States with estimates expecting borrowing to have risen by $12.4 billion.
Wednesday will deliver China’s trade balance for June, with Bloomberg expecting the nation’s surplus to widen to $US28.4 billion, from $US20.4 billion in May.
Japan’s consumer confidence index will also be unveiled.
On Thursday, the minutes of the June US Federal Reserve meeting will be released, alongside the May read on US wholesale inventories. Economists expect inventories to lift by 0.2 per cent.
Friday will bring with it June’s producer price index out of the US, as well as the University of Michigan’s confidence survey for July. Economists expect the core CPI read to post a modest 0.1 per cent rise.
On Tuesday, Federal Resources Minister Gary Gray will address a Committee for the Economic Development of Australia national energy forum in Sydney.
In Perth, Stockland Corporation chairman Graham Bradley will take part in an Australian Institute of Company Directors’ luncheon.
Also in Sydney, Telstra’s group managing director for Telstra Enterprise and government, Paul Gleeson, will address an American Chamber of Commerce in Australia.
Wednesday will see Nufarm chairman Donald McGauchie address an American Chamber of Commerce in Australia in Melbourne.
In the US, one of the Federal Reserve’s governors, Jerome Powell, will deliver an address on international financial regulatory reform in New York.
Thursday will see Wolf Blass, executive chairman of the Wolf Blass group of companies and ambassador for the Australian wine industry abroad, address an American Chamber of Commerce in Australia Deloitte business luncheon in Adelaide.
On Friday, Secretary to the Commonwealth Treasury Dr Martin Parkinson will deliver a business briefing to an American Chamber of Commerce in Australia event in Sydney.
Elsewhere, Glenn Archer, Australian Government chief information officer will address a CEDA luncheon in Sydney on ICT governance.
In Brisbane, Harry Kenyon-Slaney, chief executive of Rio Tinto Energy will address an iiNet American Chamber of Commerce in Australia business luncheon.