Global shares fell sharply early in the past week but then rebounded as fears around China’s Evergrande receded and the Fed meeting was out of the way.

These are the the economic events and implications you need to know about, and what you should be watching over the next week and further into the future.

Here's your weekly update on the market news of the week, including the implications of the iron ore price, difficulties at Evergrande, declining COVID cases and more.

Here’s a look back at the week that was as well as the economic and market news to watch out for over the next week and beyond.

Global shares were mixed over the last week. US shares fell -1.7% and European shares lost -0.8% on concerns about the growth outlook and central banks reducing stimulus.

Read the latest economic updates locally and abroad, including an anticipated update from the RBA on its bond buying program today.

While shares keep powering on month after month, the risk of a short-term correction remains, with threats from coronavirus, the approach of Fed tapering, the US debt ceiling and tax hikes and supply constraints.

The economic focus this week will likely be on June quarter GDP, while shares remain vulnerable to a short-term correction with a number of possible triggers.

Markets remain vulnerable to a short-term correction – as coronavirus remains a threat. We want freedom but until vaccinations reach the right level, you can’t always get what you want.

Here is the latest outlook for markets locally and overseas plus an update on how results from reporting season are stacking up.

Looking through the short-term noise, the combination of a number of things augurs well for shares over the next 12 months.

These are the key data releases and company reports you should keep across for the rest of the week.