The jobs report is the main event of the week, but the mood in markets may have a significant impact as well.
Major events in the coming week:
- NAB Business Confidence: Tuesday, 1:30. National Australia Bank showed an increase to 10 points in its monthly survey of around 350 businesses. A similar score is likely now.
- Home Loans: Tuesday, 1:30. This volatile gauge of the housing sector dropped in March by 2.2%. Figures for April which are projected to show a drop of 1.7%.
- Westpac Consumer Sentiment: Wednesday, 00:30.
- Phillip Lowe speaks Wednesday, 2:00. The RBA Governor will speak in Melbourne about “Productivity, Wages, and Prosperity”. Hints about monetary policy expected.
- MI Inflation Expectations: Thursday, 1:00. The Melbourne Institute’s measure of inflation fills a vacuum that the government leaves by publishing inflation figures only once per quarter. It showed a gain of 3.7% last time.
- Australian jobs report: Thursday, 1:30. After reporting a jobs increase of 22.6K in April, a similar gain of 19.2K positions is on the cards for May. The unemployment is forecast to remain at 5.6%.
- Chinese Industrial Production: Thursday, 2:00. Australia’s No. 1 trading partner has enjoyed a growth rate of 7% y/y in industrial output in April, and is expected to maintain the level in May.
- Luci Ellis speaks Friday, 3:30. The RBA Assistant Governor will speak in Sydnay and will also answer questions from the audience.
(All times are GMT)