by Chris Becker
Here’s this week’s data/event calendar, which you can also find here linked on our sidebar.
Locally, this will be another watershed week as we get some major economic prints and catalysts (but don’t be convinced that we are masters of our own destiny). The RBA meets on Tuesday, probably to cut rates by another 50 basis points (0r 0.5%) – the important number will be how much Megabank cuts her rates by, and how much she keeps to repair her very soggy balance sheet.
We have current account balances, GDP prints, unemploymen rate, home loans the trade balance all in a week!
If that wasn’t enough, its an even bigger week internationally, with the usual weekly US jobless claims, but a slew of Chinese data (released on Saturday), GDP prints from Japan and the EMU and the US Biege Book – another important barometer of the slowing US economy.
Data for the Week ending 8th June 2012:
From the Australian Bureau of Statistics (ABS):
Monday: Company operating profit, inventories for 1Q (expecting fall in former, slight rise in latter)Tuesday: Current account balance for 1Q, including net exports of GDP
Wednesday: Gross Domestic Product (GDP) 1Q – expecting 3.2% over the year, 0.5% for the quarter
Thursday: Unemployment for May, expecting 5.1% previous was 4.9%
Friday: Trade Balance for April, $900 million deficit expected (previous was $1.6 billion blowout)
From the Reserve Bank of Australia (RBA):
Tuesday: Coffee and scones to decide how far to cut rates again – expecting to fall 0.25% to 3.5%
Friday: Home loans, investing lending, owner-occupier loans for AprilOther Local and New Zealand data
Monday: TD Securities monthly/yearly inflation for May, ANZ Job Ad’sTuesday: AIG PSI Service for May
Wednesday: AIG PCI Construction for May
International:
Tuesday: EMU PMI Services, Retail Sales, German Manufacturing Orders, US Redbook/Goldman retail sales, US Factory Orders
Wednesday: EMU 1Q GDP, German Industrial Production, US ISM Non-Manufacturing Index
Thursday: US Biege Book, Bank of England announcement, US jobless claims, Fed Chairman Ben Bernanke has a chat
Friday: US consumer credit, money supply, German/French merchandise trade, US international and wholesale trade
Saturday: Chinese merchandise trade, CPI, PPI, industrial production and retail sales for May
Schedule of European debt auctions:
