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

Simon Bruty/Allsport

It’s a relatively quiet week of data ahead to round out the 2016/17 financial year.

The ASX 200 looks likely to open flat tomorrow after global markets capped a relatively benign week of trading on Friday with stocks, the US dollar and US treasury yields all little-changed.

That coincided with quite a positive session for the Aussie dollar, which rose to US75.68 cents after four straight days of losses.

With no key economic indicators scheduled in Australia, both stocks and the AUD are expected to trade within a narrow range this week.

The ASX200 has lost around 0.3% so far this month, having gained around 10% during the financial year so far.

Domestically, the main data point isn’t until Friday with the release of private sector credit for May. Within those figures there’ll be a focus on housing credit, which grew by 0.5% in April.

On Tuesday, the ABS has 2016 census data for population and housing, which serves as a reference point for population trends and housing demand across Australia.

On Thursday, the ABS has job vacancy data for May and also releases its national accounts data — a snapshot of Australia’s overall wealth.

While only for the March quarter (so a little out of date), the national accounts provide a measure of the total value of Australia’s housing assets and funds held in superannuation.

Also on Thursday, is the HIA’s new home sales for May , which follows a significant decline in April, led by falls in the sale of apartments.

On the international front, markets are also unlikely to be driven by key data with no major announcements scheduled.

All of the main data points aren’t until Friday, starting with China’s manufacturing PMI.

Japan will hope to show more evidence of its modest economic recovery with monthly industrial production, jobless numbers and annual inflation data.

After markets close in Australia to end the week, Europe will report on its annual inflation estimate for May.

Despite no headline data, it’s still a relatively busy week ahead in the US. It will be worth monitoring given the recent run of poor hard data, which has raised concerns about the pace of US economic growth in the second half of 2017.

Again the main data points are not until Friday when personal income and expenditure figures are released, with US consumer spending expected to slow in May.

Also on Friday is the Personal Consumption Expenditure (PCE) index which is a key measure of US inflation. Headline PCE recorded a 1.7% annual increase in April, with core (underlying) PCE at 1.5%.

Here’s a quick summary of the other data points to be released in the US this week:

  • Monday: Durable goods orders
  • Wednesday: International trade data, EIA weekly petroleum report
  • Thursday: Finalised GDP estimate for Q1 2017, jobless claims for May.
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