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THE WEEK AHEAD

The 2012 financial year wraps up with local jobs and new home sales figures, while US GDP data headlines offshore economic news.
By · 22 Jun 2012
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22 Jun 2012
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The final week of the 2012 financial year brings a mix of important economic indicators from both home and abroad.

Locally, job vacancies data is due, along with new home sales figures from the Home Industry Association.

Overseas, Unites States gross domestic product data for the first quarter will dominate news.

Elsewhere, the United Kingdom also awaits gross domestic product figures.

In company news, a number of groups are due to pay dividends, while Metcash will report full year results.

The 2012 world banking and finance summit begins in the week ahead, while European Union leaders will meet to discuss solutions to the current state of the region.

RBA

On Tuesday, Reserve Bank of Australia assistant governor Guy Debelle will sit on a discussion panel at the Mortgage and Finance Association of Australia's industry leaders forum in Adelaide.

Investors will watch carefully for any comments on the future of monetary policy and the banks thoughts on the current situation in Europe.

Minutes of the RBA's last policy meeting showed increased uncertainty in Europe and clear evidence suggesting that a softening in global conditions led the RBA to cut interest rates at its last meeting.

Volatility in the region has increased since this then and investors are keen for some updated views from the central bank.

Local

The week in local news brings a thin amount of important data.

On Thursday, job vacancies data for May will be released by the Australian Bureau of Statistics.

Elsewhere, the Home Industry Association will release new home sales data for May.

Friday brings May private sector credit data from the Reserve Bank of Australia. Economists expect the data to show a 0.4 per cent lift in credit.

Corporate

The week in company news sees a mixture of corporate activity locally.

Monday sees James Hardie go ex-dividend, along with Sydney Airport and Charter Hall Retail REIT.

Ardent Leisure and Dexus Property Group are also due to pay dividends this week.

Tuesday brings Singapore Telecommunication's annual general meeting.

On Thursday, Metcash will release full-year earnings results.

Elsewhere, Aurora Oil & Gas and Hill Grove Resources will hold AGMs.

Overseas, Nike Inc will release earnings figures, along with tech giant Research in Motion.

On Friday, financial results are due from Betfair Group in the United Kingdom.

Offshore

Overseas, Monday sees new home sales data for May released in the US. Analysts are tipping the figures to show a 0.7 per cent lift in sales for the period.

The Dallas Federal Reserve manufacturing survey is also due.

In the United Kingdom, nationwide housing price data for May will be released.

Tuesday brings US consumer confidence data for June, along with Standard & Poor's Case-Shiller home price index for May. The index is expected to show a 0.2 per cent increase in prices.

The Richmond Federal Reserve manufacturing index for June will also be released. The confidence gauge is expected to have eased by 0.9 points to 64 points in the month.

Elsewhere, public sector net borrowing data for May is awaited in the UK.

In the US on Wednesday, May durable goods orders data is due. Experts believe orders likely lifted by 0.5 per cent in the period.

Pending home sales data and the weekly Energy Information Administration petroleum status report are set for release. The sales data is expected to show a 1 per cent rise.

Weekly Mortgage Bankers Association mortgage applications data is also on tap.

In the UK, the CBI distributive trades survey is expected.

On Thursday, Unites States gross domestic product data for the first quarter is due.

Jobless claims data is also set for release.

In the UK, current account balance data for the first quarter is awaited, along with gross domestic product data for the period.

First quarter total business investment figures are also on tap, along with the June consumer confidence data from Gfk.

Elsewhere, European Union consumer confidence and industrial confidence data for June is expected to be released.

Friday brings consumer sentiment data, along with May personal income figures in the US.

The Chicago purchasing managers index will also be released.

Wrapping up

Rounding off the week, Monday brings a meeting from the World Trade Organisation's dispute settlement body in Washington.

Elsewhere, European Central Bank board member Jorg Asmussen will speak in Germany.

Tuesday sees HSBC Australia chief executive officer Paulo Maia address a Trans-Tasman Business Circle event in Sydney.

European Council President Jose Manuel Barroso will address an event in Brussels.

In London, the 2012 the three-day world banking and finance summit will begin.

Elsewhere, the European Union will hold entry talks with Montenegro, Iceland and Turkey.

On Wednesday, the WTO's sub-committee on least-developed countries will meet.

Cleveland Federal Reserve president Sandra Pianalto will address a summit on housing in the US.

Dallas Federal Reserve president Richard Fisher will talk on the US economy, jobs and prospects for recovery.

Thursday sees General Electric Australia chief executive officer Steven Sargent speak at an American Chamber of Commerce business briefing in Perth.

Asia-Pacific Economic Cooperation senior finance officials will begin a two-day meeting in St Petersburg.

EU leaders will kick-off a two day summit in Brussels.

On Friday, Wesfarmers chief executive officer and managing director Richard Goyder will speak at a TTBC event in Perth.

Australian Cola Association chief executive officer Nikki Williams will speak at a Committee for the Economic Development of Australia event in Canberra.

St Louis Federal Reserve president James Bullard will speak on US monetary policy.

The European Council will release its quarterly euro area report.

Finally, World Bank President Robert Zoellick's term in the role ends on Friday.

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