Last night’s US new weekly jobless claims number suggests the tide may now be turning on the US economic recovery. With re-lockdowns commencing in July, next week’s durable goods orders and personal income & spending data for June may thus be misleading.
More immediately relevant will be July consumer confidence numbers. The Fed holds a policy meeting on Wednesday.
The eurozone reports a first estimate of June quarter GDP on Thursday.
On Friday China will release July manufacturing and services PMIs.
Australia will see June quarter inflation numbers which might be interesting, but unlikely to be market-moving in the scheme of things. It would be nice if they could send the Aussie lower nonetheless.
More relevant for Australia next week is the beginning of the “August” reporting season. The first trickle of reporters next week includes GUD Holdings ((GUD)), Credit Corp ((CCP)), Janus Henderson ((JHG)), Rio Tinto ((RIO)), Cimic ((CIM)), Genworth Mortgage Insurance ((GMA)) and UR Westfield ((URW)).
This will coincide with the last burst of resource sector production reports ahead of month-end. Reporters include Iluka Resources ((ILU)), IGO ((IGO)), Fortescue Metals ((FMG)), OceanaGold ((OGC)), Sandfire Resources ((SFR)) and Infigen Energy ((IFN)).
Macquarie Group ((MQG)) holds its AGM on Thursday.
