THE WEEK AHEAD

A light week in local data is likely to turn up the spotlight on Craig Thomson's address to parliament, while Myer, James Hardie and Grain Corp hand down results.

The week ahead brings a host of important economic indicators, with a mixture of key local and international releases set to be digested by investors.

Local news is thin on the ground this week, but skilled vacancies and housing affordability data are expected.

Embattled MP Craig Thomson will command the attention of the nation when he addresses parliament on the allegations made against him surrounding his time with the Health Services Union.

Offshore, US home sales data, jobless claims and consumer sentiment figures are due.

Elsewhere, British gross domestic product data for the first quarter is set for release, alongside the minutes of the Bank of England’s most recent policy meeting.

In the corporate world, third quarter sales results are due from Myer Holdings, while Leighton Holdings will hold its annual general meeting.

Local news

A quiet week in local news lies ahead with no headlines slated from the Australian Bureau of Statistics and Reserve Bank of Australia.

On Wednesday, the Department of Education and Workplace Relations will release its skilled vacancies index for April.

Elsewhere, Westpac Banking Corporation and the Melbourne Institute will release their latest leading index.

Thursday sees the Housing Industry Association release its Housing Affordability Index for the March quarter.

Corporate

A solid week in company news brings a number of company earnings reports and annual general meetings.

On Monday, James Hardie will release full year results, along with Elders and Campbell Brothers.

Tuesday sees GrainCorp release interim earnings figures.

Leighton Holdings will hold its annual general meeting.

Overseas, first quarter earnings figures are due from Dell Inc.

Vodafone Group is set to release earnings results in the UK.

Wednesday brings third quarter sales results from Myer Holdings.

Elsewhere, Iluka Resources and Petsec Energy will hold annual general meetings.

In the US, Hewlett-Packard will make second quarter earnings figures available to the market.

Thursday sees SAB Miller PLC release earnings figures overseas.

Offshore

Overseas, the week ahead is dominated by data releases in the United States and United Kingdom.

Tuesday sees April existing home sales data released in the US. Analysts are tipping the figures to show a 2.5 per cent increase in sales for the month.

The Richmond Federal Reserve manufacturing index for May is also on tap.

In the UK, April consumer price index data is due, as well as the retail price index for the month.

Public sector net borrowing data for April is also expected to be released.

On Wednesday, new home sales figures for April are awaited in the US, along with the weekly petroleum status update from the Energy Information Administration.

New home sales are tipped to have expanded by 2.1 per cent in April.

The Bank of England is due to release the minutes of its latest policy meeting.

Elsewhere, the Bank of Japan will meet to make its monthly interest rate decision.

Thursday brings US durable goods orders for April and jobless claims data. Economists are tipping orders to bounce back from last month’s fall and record growth of 1 per cent.

In the UK, first quarter gross domestic product data is on tap.

April retail sales data is also due.

On Friday, consumer sentiment data is due in the US.

Wrapping up

Rounding off the week, Sunday sees a meeting of Asia-Pacific Economic Cooperation senior officials.

On Monday, all eyes will be on Craig Thomson, when he addresses parliament on the allegations made against him surrounding his time with the Health Services Union.

The MP denies the corruption claims and will read his defence of about 30 minutes to parliament.

Elsewhere, Woolworths multi-channel director Penny Winn will speak at a Trans-Tasman Business Circle event in Sydney.

The APEC business advisory council will kick-off a three day meeting.

Atlanta Federal Reserve president Dennis Lockhart will address the North Asian Institute of Regulation and Risk.

The US chamber of commerce will begin its two-day small business summit.

Tuesday sees Infrastructure Australia chairman Rod Eddington and Infrastructure Partnerships Australia boss Mark Birrell speak at an Australian British Chamber of Commerce luncheon.

The Organisation for Economic Co-operation and Development will begin its two day forum for 2012.

Wednesday brings the beginning of the two-day OECD council ministerial level meeting.

In the US, Minneapolis Federal Reserve president Narayana Kocherlakota will address a forum in South Dakota.

On Thursday, Virgin Holdings Australia chief executive John Borghetti will address a Committee for Economic Development of Australia luncheon in Sydney.

Australian Taxation office second director David Butler will address a TTBC function in Canberra.

The Basel Committee on Banking Supervision will hold a workshop in Switzerland.

The World Trade Organisation dispute settlement body will meet.

Friday sees Telstra Corporation chief information officer Patrick Eltridge as the guest speak at a TTBC event in Sydney.

Offshore, the European Council will meet amid fears over the possibility of a Greek departure from the eurozone.

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