Today’s industrial production, retail sales and fixed asset investment data for April out of China will be telling, as a guide to just how quickly the first in-first out lockdown economy is bouncing back. In contrast will be industrial production and retail sales numbers for April out of the US, which will likely be shockers, but possibly represent a trough.
Next week we’ll also see flash manufacturing PMI estimates for May across several economies, including Australia and the US.
The minutes of the May RBA meeting are out next week, and may give us an idea of how much the central bank has now pulled back on its government bond purchases, which informs the stability or otherwise of credit markets. The ABS will release preliminary retail sales numbers for May, but these precede the easing of restrictions on shops.
Japan will report March quarter GDP.
The minutes of the last Fed meeting are also out next week, along with US data for housing sentiment and starts.
Elders ((ELD)), James Hardie ((JHX)), Ozforex ((OFX)), TechnologyOne ((TNE)) and Aristocrat Leisure ((ALL)) report earnings next week.
Adelaide Brighton ((ABC)), Atlas Arteria ((ALX)) and Sydney Airport ((SYD)) hold AGMs. Appen ((APX)) hosts an investor day.
