On Monday

But the week starts on Monday, with a bevy of indicators due for release. The Australian Bureau of Statistics (ABS) issues the March building approvals series. The Melbourne Institute releases the April inflation gauge and ANZ releases its April data on job advertisements.

The building approvals data is notoriously volatile but the trend gives a guide to future construction work. And the job ads data will certainly get plenty of attention, especially relative to the latest gauge on inflation.

On Tuesday

On Tuesday, the Reserve Bank Board meets but no change in settings is expected. Already maximum monetary stimulus is being applied.

In terms of economic data on Tuesday, the ABS’ weekly payroll jobs and wages data is due and the Federal Chamber of Automotive Industries issues the April car sales data. The AiGroup releases its construction index. And CommBank issues its April services index. Roy Morgan and ANZ will also release the weekly reading of consumer sentiment on Tuesday

On Wednesday

On Wednesday, the ABS releases the retail sales data for the March quarter. Early data showed a record 8.2% lift in retail spending in March. If that data is confirmed and there is also a solid lift in inflation-adjusted sales in the quarter, then analysts will start questioning whether economic growth may have miraculously lifted over the quarter.

Also, on Wednesday, the ABS issues lending indicators for March and the Living Cost Indexes for the March quarter.

On Thursday

On Thursday, the AiGroup will release its purchasing manager’s index for the services sector. In March, the services gauge stood at 38.7 – well below the 50 reading that separates expansion from contraction. Also, on Thursday the ABS issues the ‘final’ international trade figures for March. Preliminary March data showed goods exports lifting 29% in March with goods imports up 10%. The data – which will include services receipts and payments - will lead to early estimates being made of net exports in the quarter (exports less imports).

On Friday

On Friday, the Reserve Bank issues the keenly-awaited Statement on Monetary Policy. It is a difficult time to forecast, but investors will be looking to guidance from the RBA, even if the forecasts are only expressed in broad ranges.

Overseas: Jobs, jobs and more job

There is plenty of data to monitor over the week. But the gazes of investors will be firmly fixed on data to be released late in the week. The ADP data on private sector payrolls is out Wednesday in the US with the weekly claims for unemployment insurance on Thursday and the pivotal non-farm payrolls on Friday.

On Monday

The week kicks off in China on Monday when results of the private-sector Caixin manufacturing gauge are released. The survey of purchasing managers stood at 50.1 in March, signifying flat activity. The equivalent gauge for the services sector will be issued on Wednesday.

On Monday in the US, the ISM New York Index for April is released with factory orders for March.

On Tuesday

On Tuesday in the US, March data on international trade is issued with the ISM services gauge for April and the May IBD/TIPP economic optimism gauge. The weekly Johnson Redbook chain store sales figures and ‘final’ April reading for the Markit services purchasing manager’s index are also scheduled.

On Wednesday

On Wednesday in the US, the ADP survey of private sector payrolls and the regular weekly data on US mortgage applications from the Mortgage Bankers Association (MBA) are both due. Most interest is in the ADP survey and the early forecasts are indicating a 2.1 million loss of jobs over April.

On Thursday

On Thursday in China the April International trade data is expected. In March a surplus of US$19.9 billion was produced despite exports falling 6.6% over the year and imports only falling 1.0%. On Thursday in the US, the weekly data on new claims for unemployment insurance is issued with the Challenger series of job cuts, consumer credit data and quarterly readings of labour costs and productivity.

On Friday

On Friday the US Bureau of Labour Statistics releases the closely-watched April jobs report. Based on early forecasts, non-farm payrolls (employment) may have slumped by 2.1 million, causing the jobless rate to rise from 4.4% to 16.2%. The figures are staggering but understandable given these exceptional times.

Financial markets: US corporate reporting season

In the US the profit-reporting or earnings season moves into full swing. Amongst companies scheduled to report are:

On Monday

Tyson Foods

On Tuesday

Du Pont; Fiat Chrysler, Newmont Mining

On Wednesday

Barrick Gold; General Motors; CVS Health; New York Times; Office Depot; Waste Management; Wendy’s

On Thursday

Anheuser Busch; Arcelor Mittal; Bristol-Myers Squibb; Hilton Worldwide; JetBlue Airways; Moderna

On Friday

Bloomin Brands; Brookfield Infrastructure