THE WEEK AHEAD

A mixed week for the local market, with a barrage of property-centric data to be released including the latest reads on new home sales, home prices and building approvals.

The Reserve Bank’s of Australia July private sector credit numbers will be of interest, but investors are likely to be more interested in an address by Governor Glenn Stevens ahead of next week’s rates decision.

Offshore, the latest read on US unemployment will be the biggest event, albeit at the tail end of the week, while US GDP is also out as well as two key reads on China’s manufacturing sector.

Key speeches from the respective heads of both ASIC and the ACCC will also draw attention.

RBA

A relatively subdued week for the central bank ahead of next week’s highly anticipated August board meeting.

On Tuesday, Governor Glenn Stevens will deliver an address to The Anika Foundation luncheon in Sydney, supported by Australian Business Economists and Macquarie Bank.

Wednesday will see the RBA release the latest read on private sector credit through the July financial aggregates figures. Economists expect a modest 0.2 per cent lift.

The central bank will also lift the lid on its international reserves and foreign currency liquidity for the month.

Local data

A busy week for the property sector with key reads on home sales and prices due out, alongside the latest performance of manufacturing index.

Tuesday will deliver the June read on building approvals. Economists are expecting a lift of 2.5 per cent in the month.

On Thursday, the Australian Industry Group will lift the lid on its Performance of Manufacturing Index and the RP Data-Rismark home prices index for July will be released.

The Housing Industry Association is also slated to release its new home sales figures for the month.

Friday will bring the ABS’s latest read on business inflation through the June quarter producer price indices.

Corporate

The slow ramp up to the August earnings season really gains momentum this week with Whitehaven Coal rounding out the major miners’ quarterly production updates and Transurban delivering its full-year results.

Monday will see Intrepid Mines deliver its results for the recent quarter.

On Tuesday, Whitehaven Coal will release its June quarter sales and revenue report, while Beach Energy will also deliver its fourth-quarter update.

Elsewhere, Energy Resources of Australia will release its interim results.

Wednesday will see Navitas unveil its full-year results.

Thursday will bring with it Transurban’s full year results, alongside Universal Biosensors second-quarter update.

Offshore

Key reads on US unemployment and GDP as well as the latest gauge of the Chinese manufacturing sector will be the highlights offshore this week.

Tuesday will see the June read on pending home sales out of the US. Bloomberg analysts are expecting a 0.1 per cent decline month-on-month.

The US Federal Reserve will also commence its two-day meeting.

On Wednesday, the consumer confidence index for July is due in the US, with Bloomberg tipping a print of 81, slightly lower than June’s 81.4.

Thursday delivers two key reads on China’s manufacturing sector. First the official manufacturing purchasing managers’ index, then 45 minutes later the HSBC manufacturing PMI.

In the US, second-quarter GDP numbers are due out, with Bloomberg expecting the figure to widen by 1.3 per cent.

July’s ADP employment change is also expected out of America.

Friday delivers construction spending and vehicle sales for July out of the US. Bloomberg analysts are expecting a 0.5 per cent increase for the former while total vehicle sales are tipped to narrow slightly to 15.75 million in the month.

Markit US final PMI is also due out.

Late on Friday, the latest unemployment read will be released in the United States, Bloomberg expects the unemployment rate to narrow slightly from 7.6-7.5 per cent.

Wrapping up

On Monday, ACCC chairman Rod Sims will take part in an Australian Institute of Company Director’s ‘Leader’s Edge Luncheon’ in Melbourne which will be facilitated by Business Spectator editor-in-chief Alan Kohler.

Tuesday will see Australian Securities and Investments Commission (ASIC) chairman Greg Medcraft address a Committee for the Economic Development of Australia luncheon in Melbourne on the subject of the ‘challenges facing financial services and market regulators’.

In Sydney, chairman of the Clean Energy Finance Corporation, Jillian Broadbent will also address a CEDA luncheon.

On Wednesday, National Online Retailers Association chief executive Paul Greenberg and Austrade CEO Bruce Gosper will be part of a CEDA panel discussion in Sydney entitled ‘The Digital Economy Fuelling Australia’s Export Growth’.

Elsewhere, CBA executive director of real estate, institutional banking and markets Brian McGovern and Federation Centres chief executive Steven Sewell will deliver a property market update to a CEDA function in Melbourne.

In Canberra, chief scientist for Australia Ian Chubb will address the National Press Club. Prof Chubb will deliver a speech entitled ‘Australia must take a strategic approach to Science, Technology, Engineering and Mathematics in the National Interest’.

On Thursday, Business Spectator editor-in-chief Alan Kohler will debate Malcolm Turnbull on the state of the national broadband network in Sydney.

Also in Sydney, QBE Insurance chief executive John Neal will address a Trans-Tasman Business Circle event.

In Brisbane, Queensland Health Minister Lawrence Springborg will address a CEDA regarding health services reform.