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THE WEEK AHEAD

Labour, housing and consumer sentiment date will be spotlighted in the coming week, while China releases a slew of indicators.
By · 6 Jul 2012
By ·
6 Jul 2012
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The week ahead brings a glut of important economic indicators from both Australia and overseas.

A busy week in local news brings labour force, housing finance and consumer sentiment data.

Overseas, the minutes of the US Federal Reserve's latest monthly policy meeting will be released, along with international trade data.

A bunch of important data is also expected from China.

In company news, Energy Resources of Australia and Iluka Resources will release quarterly production reports.

The world economic forum will wrap up in Davos this week, while Reserve Bank of Australia deputy governor Phillip Lowe will be kept busy with a couple of public appearances.
RBA

Wednesday sees Lowe address the 41st Australian Conference of Economists in Melbourne.

On Thursday, Lowe will make a speech as part of The Economist's Bellwether Series in Sydney.

Investors will watch both events carefully for any reflection on the current state of monetary policy, after the RBA left interest rates on hold at 3.5 per cent last month.

Analysts are still expecting at least one more interest rate cut before the end of the year.

Local news

A mix of indicators from both private and public sources headlines a busy week in local news.

Monday sees ANZ Banking Group release its job advertisements survey for June.

Tuesday brings May building approvals data from the Australian Bureau of Statistics.

National Australia Bank will release its business confidence and conditions surveys for June.

On Wednesday, the ABS will release housing finance data for May. Analysts expect the data to show lending has eased 3 per cent in the month.

Elsewhere, the Melbourne Institute/Westpac Banking Corporation consumer sentiment index for July is awaited.

Thursday sees June labour force data released by the ABS. Economists are tipping the data to show a flat result for the month, with the jobless rate lifting to 5.2 per cent.

The Melbourne Institute's consumer inflation expectation and unemployment expectations indexes for July are also due.

Corporate

Company news picks up this week after a period of minimal activity.

In the US on Monday, Alcoa Inc will release second quarter earnings results.

Tuesday sees Insurance Australia Group a briefing on Asian markets the group has presence in, including Thailand, Malaysia, India, China and Vietnam, in Sydney.

On Wednesday, Energy Resources Australia will release its March quarter production report.

Thursday sees CSR hold its annual general meeting.

Elsewhere, Iluka Resources will release its quarterly production report.

Friday brings earnings data from JP Morgan Chase & Co in the US.

Overseas

In offshore news, Monday sees RICS housing price data for June released in the United Kingdom.

The BRC retail sales monitor is also due.

Tuesday brings IBD/TIPP economic optimism data for July in the United States.

In the UK, May goods trade balance data is due, along with industrial production and manufacturing production data for the month.

In the United States on Wednesday, the Federal Reserve will release the minutes of its latest monetary policy meeting.

International trade data will also be released, along with the Energy Information Administration's weekly petroleum status report. The county's deficit is expected to have narrowed to $48.5 billion.

Wholesale inventories data for May is also awaited. Experts are tipping the figures to show a 0.3 per cent lift in the month.

Thursday brings jobless claims data in the US, as well as import and export price data for June.

Friday sees the US producer price index for June released, along with the Reuters/Michigan Consumer sentiment index for July. The core rate of producer prices is expected to show a 0.2 per cent rise.

In China, a stream of data will be released, including figures on inflation, investment, retail sales and production.

Wrapping up

Rounding off the week, Sunday is the final day of the three day world economic forum in Davos, Switzerland.

On Monday, Chicago Federal Reserve president Charles Evans will speak on the future of US monetary policy in the US.

San Francisco Federal Reserve president John Williams will speak on the economic outlook.

Elsewhere, the European Council will meet.

European Central Bank president Mario Draghi will speak on current economic and monetary developments and explain the ECB's policy stance.

ECB council member Ewald Nowotny will address a European conference on economic governance.

On Tuesday, the World Trade Organisations' dispute settlement body will meet.

The ECB's Christian Noyer will present the French central bank's annual report in Paris.

Wednesday sees Westpac Banking Corporation hold a teleconference with Brad Cooper, chief executive officer of BT Financial Group.

The Organisation of Petroleum Exporting Countries will release its monthly oil market report.

On Thursday, Metcash chief executive officer Andrew Reitzer will speak at an American Chamber of Commerce in Australia business briefing in Sydney.

Elsewhere in Sydney, Australian Securities and Investment Commission chairman Greg Medcraft will take part in The Economist Bellwether Series in Sydney.

Elsewhere, the ECB will release its monthly bulletin.
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Shane White
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