Well there we were thinking that after six years, Fed tapering and rate rise speculation was a signal the GFC is finally all but behind us. But along came European deflation and Mario Draghi with his heavy artillery. The sooner the eurozone is recognised as a pitiful failure, and disbanded, sooner the world will be better off. A rising tide of euro-scepticism in the European parliament offers promise.
But life sails merrily on. Tonight the US jobs number for May is due and will offer implications for aforementioned tapering/rate rise timing.
On Sunday Beijing will release China’s May trade balance.
Next week’s US data releases include inventories, retail sales, the PPI and fortnightly consumer sentiment.
China will release its May inflation numbers on Tuesday and on Friday will provide a data dump of May industrial production, retail sales and fixed asset investment numbers.
The Reserve Bank of New Zealand will hold a policy meeting on Thursday.
Australian markets will be closed on Monday for the Queen’s birthday long weekend and FNArena will subsequently also be closed, although the website will remain fully accessible.
Thereafter, next week’s local data releases include ANZ job ads, NAB business confidence, Westpac consumer confidence, housing finance, investment lending and on Thursday, our own jobs numbers.
It’s getting very quiet on the corporate front as we approach end of financial year with scheduled updates minimal and remaining unscheduled profit “confessions” unknown at this stage. Goodman Group (GMG) will provide an update on Thursday.