It’s a light week for the data hounds in Australia with nothing material released in the first couple of days of the week.
But that doesn’t necessarily mean it’s going to be quiet -German retail sales are out tonight along with US Services PMI. Also out offshore of great import are the ADP payroll report (an important lead indicator of the non-farm payrolls) and the advance estimate (guesstimate?) for Q2 US GDP on Wednesday.
Also out before US non-farms on Friday is the FOMC meeting Wednesday. Traders will be hanging for any indications of when taper becomes tightening.
Thursday in Australia sees dwelling approvals and private sector credit before PPI and AiG PMI on Friday.
Friday night is US non-farms – the most important data point each month – and German factory orders.
Australian traders are at the mercy of offshore moves this week.
Here is Westpac’s excellent snapshot of all the important major market moves.