AUSTRALIAN DIARY: Everything you need to know about the week ahead for markets

Photo by Ander Gillenea/Getty Images

There’s no headline data on the domestic calendar this week, with attention early in the week likely to be on the monthly readings for business and consumer confidence.

Looking abroad, there are central bank speakers throughout the week then all eyes will be on US inflation figures due out Friday, after Asian markets close.

Last Friday’s employment data showed the US economy shed 30,000 jobs in September — the first monthly decrease since 2010.

However, there were signs of positive wage growth, and the market largely shrugged off the poor result due to the one-off impact of hurricanes.

The US dollar index continued to climb and yields on 10-year US treasuries briefly hit 2.4% for the first time since July, before both receded into the close amid reports of another North Korean missile test.

Over the weekend, US president Trump tweeted that “only one thing will work” to address the North Korean crisis, although he didn’t specify what that would be.

The Australian dollar will open the week at 0.7766 US cents.


With no headline releases, local data will be led by NAB’s monthly business confidence index on Tuesday morning, followed by the Westpac consumer confidence index on Wednesday.

Readings for both indexes in August showed a continuation of the recent theme in which business conditions are favourable while Australian consumers remain pessimistic.

ANZ’s weekly consumer confidence reading also comes out on Tuesday, and the wellbeing of Australian consumers may get more attention in the wake of last week’s sharp decline in retail sales.

Also this week, political uncertainty may impact local markets with the High Court set to hear Constitutional arguments for whether five lawmakers, including three government ministers, are eligible to sit in parliament due to their dual citizenship status.

Then there’s August housing finance data from the ABS on Thursday, and on Friday the RBA releases its semi-annual financial stability review.

Here’s the full Australian calendar for this week (data via ANZ):


On Wednesday the US Fed’s minutes from its September meeting, released on a three-week delay, are likely to get some attention.

Another round of speakers from the US Federal Reserve kicks off on Tuesday night, with committee members scheduled to speak on the four days to the end of week.

ECB President Mario Draghi is also due to make a speech at a policy conference in Washington on Thursday night.

Friday night brings September inflation data for the US economy, with annual core inflation forecast to edge higher to 1.8%.

Rounding out a big end to the week on the US data front is retail sales and the University of Michigan consumer confidence index.

Full international calendar is below (also via ANZ):

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