On Monday

The week kicks off on Monday when Reserve Bank Governor Philip Lowe participates in the ANU Crawford Leadership Forum – “Global Economy and COVID-19.”

On Tuesday

On Tuesday, the regular ANZ-Roy Morgan weekly reading on consumer confidence is due with the ‘flash’ (preliminary) CBA purchasing managers survey results, weekly CBA card spending data and preliminary May data on exports of goods and services.

On Wednesday

On Wednesday, the Australian Bureau of Statistics (ABS) issues yet another special COVID-19 report, this time Provisional Mortality Statistics for the January-March 2020 period. And the Department of Employment issues the May data on skilled vacancies. In trend terms, the Internet Vacancy Index (IVI) fell by 16.4% in April (or 18,400 job advertisements), the largest monthly decline since the series began in January 2006.

On Thursday

On Thursday, the ABS issues three publications: the March quarter “Finance and Wealth”; job vacancies for May; and detailed Labour Force figures, also for May. Household wealth would have eased in the March quarter in line with the share market correction. Job vacancies are also expected to have slumped in the three months to May. And the detailed labour data will show the changes in industry employment from February to May.

On Friday

On Friday, the ABS issues two interesting publications, although they won’t have an impact on financial markets trading. The first report is “Apparent Consumption of Selected Foodstuffs” for the 2018/19 year while the “Characteristics of Australian Business” report covers the same time period.

Overseas: Mixed array of US data

Just like Australia, there will be a mixed array of data and survey results in the coming week.

On Monday

The week kicks off on Monday in China when the 1- and 5-year loan prime rates for June are announced. In the US on Monday May data on existing home sales are issued together with the Chicago Federal Reserve National Activity index.

On Tuesday

On Tuesday, the weekly Johnson Redbook chain store sales figures are released with new home sales, the influential Richmond Federal Reserve manufacturing index and the Markit ‘flash’ (preliminary) results from the survey of purchasing managers.

On Wednesday

On Wednesday, the regular weekly data on US mortgage applications from the Mortgage Bankers Association is released with the house price index from the Federal Housing Finance Agency. The house price data is derived from the average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac. In March, prices rose just 0.1% to be up 3.1% for the March quarter compared with a year earlier. Also on Wednesday, Reserve Bank New Zealand makes a decision on the official cash rate.

On Thursday

On Thursday, the weekly data on new claims for unemployment insurance (jobless claims) are issued with the final GDP (economic growth) estimate for the March quarter. Initial results indicated that the US economy contracted 4.8% in the quarter. Also, on Thursday, data on durable goods orders is released with corporate profits, wholesale inventories and the Kansas Federal Reserve manufacturing index. The advance goods trade balance for May is also scheduled.

On Friday

On Friday, the personal income and spending data for May is released with the final estimate of consumer sentiment for June.