China’s June quarter GDP result is due on Monday. It will be interesting to see what Beijing decides to come up with.
Month of June industrial production, retail sales and fixed asset investment numbers are also due.
There is a load of US data out next week that should inform a Fed policy decision, however Jerome Powell’s second session of testimony to Congress last night provided the suggestion the Fed is likely to be “pre-emptive” in providing a rate cut, irrespective of the latest data.
Numbers for the PPI (tonight), industrial production, retail sales and housing starts might otherwise have been useful, along with the Fed Beige Book, housing sentiment and consumer sentiment.
In Australia, the RBA minutes are unlikely to offer much in terms of additional information but the market will still be looking for any hint of rate cut number three being possible. NAB’s June quarter business confidence summary will be a bit old hat.
More important will be the jobs numbers on Thursday.
In the local stock market, resource sector quarterly production report season ramps up in earnest next week. Among that number are the two big miners and the three big oil & gas companies.
