THE WEEK AHEAD

This week is headlined by second quarter inflation data, and earnings season begins to pick up with Woolworths and Wesfarmers set to release full-year results.

A massive week ahead in economic indicators is headlined by the release of second quarter consumer inflation data.

The highly anticipated figures come alongside the producer price index and job vacancy numbers.

Overseas, gross domestic product data for the second quarter is due in the United States.

Elsewhere, second quarter GDP data is also due in the United Kingdom.

The first signs of the upcoming earnings season dominate company news, with Woolworths and Wesfarmers set to release full-year sales results.

Oil Search, Atlas Iron and Alesco Corporation will also reveal earnings results.

RBA

A quiet week for the Reserve Bank of Australia begins on Tuesday when governor Glenn Stevens addresses the Anika Foundation Luncheon in Sydney.

Investors will pay close attention to the speech for any reflection on the future of monetary policy.

The minutes of the central bank’s last policy meeting showed the RBA believes the current cash rate setting is ‘appropriate’ given signs that the economy has little more momentum than previously thought.

Many analysts have now ruled out any chance of a cut in August, but are still expecting at least one more cut before the end of the year.

Local news

The week in local news brings a number of key releases from the Australian Bureau of Statistics.

On Monday, the ABS will release June quarter producer price index data. Analysts are expecting the figures to show a 0.5 per cent fall in prices for the quarter, taking the annual rate to just 0.1 per cent.

Wednesday brings highly anticipated consumer price index data for the second quarter from the ABS. Experts are tipping the figures will show consume prices rose rose 0.5 per cent in the period, dragging the annual rate to 1.1 per cent.

Elsewhere, the Department of Education and Workplace Relations will release its skilled vacancies index for June.

Corporate

A huge week in company news sees the first wave of results heralding the start of earnings season in Australia, as well as a suite of big US names as the reporting period continues over there.

On Monday, Woolworths is due to report full-year sales results, while Alesco Corporation will release full-year earnings.

Elsewhere, Macquarie Atlas is due to report sales results for the second quarter, while Western Areas will unveil its quarterly activities report for June.

Overseas, second quarter earnings data is due from Halliburton, Coca-Cola Enterprises and McDonald's Corporation.

Tuesday sees Atlas Iron release its quarterly production report, along with Mirabella Nickel and Oil Search.

In the United Kingdom, Virgin Media will release earnings results for the second quarter.

Apple Inc reports earnings in the US.

Wednesday sees Macquarie Group hold its annual general meeting, along with Macquarie Bank and Norfolk Group.

OZ Minerals is also due to report.

Thursday brings annual sales results from Wesfarmers, while Newcrest Mining will release its June quarter production report.

Interim results from Energy Resources Australia are also awaited, along with Whitehaven Coal.

OceanaGold will also report, along with Australand Property Group.

Friday sees Singapore Telecommunications Group, owner of Optus, hold its AGM.

Offshore

Overseas, key releases are expected on both sides of the Atlantic.

In the United Kingdom on Monday, housing price data for June is due.

Elsewhere, European Union flash consumer sentiment data is due.

On Tuesday, the Richmond Federal Reserve manufacturing index for July will be released in the United States.

Housing price data for May will also be released.

In Europe, the flash purchasing managers index for both manufacturing and services is due.

In the US on Wednesday, new home sales data for June is set for release, alongside the weekly Energy Information Administration petroleum status report.

The US Mortgage Bankers Association will release weekly mortgage applications data.

In the UK, second quarter gross domestic product data will be released.

Thursdays brings June durable goods data, along with jobless claims figures for the week. Orders are expected to have lifted by 0.5 per cent.

The pending home sales index for June is also on tap, and analysts are tipping the data to show a one per cent rise.

Eurozone M3 money supply data is due in Europe.

On Friday, gross domestic product data for the second quarter is due in the United States. Economists believe the data will show growth of 1.8 per cent in the quarter.

Elsewhere, the Reuters/Michigan consumer sentiment index for July will be released.

Wrapping up

Rounding off the week, Monday sees National Australia Bank personal banking group executive Lisa Gray speak at a Trans-Tasman Business Circle event in Melbourne.

Elsewhere, the World Trade Organisation’s dispute settlement body will meet in Washington.

On Wednesday, Telstra Corporation chief technology officer and head of innovation Hugh Bradlow will address a TTBC function in Sydney.

Overseas, the World Trade Organisation will kick-off its two-day general council meeting in the US.

Thursday brings a speech by Incitec Pivot managing director and chief executive officer James Fazzino to an American Chamber of Commerce in Australia business briefing in Sydney.

Elders managing director Malcolm Jackman will speak at a separate AMCHAM event in Adelaide.

Overseas, the eurozone economic and financial affairs council will hold its monthly budget meeting.

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