Free Trial

Busy Week, Focus On Retail Sales (Mon) & CPI (Wed)


There is a lot of data this week but the focus is likely to be on July CPI (Wednesday) and retail sales (Monday).

  • Today July retail sales print and are expected to rise 0.2% m/m after falling 0.8% m/m, which would result in 1.8% y/y growth. The new CBA household spending insights has a high correlation with retail sales and it was flat in July to be up 1.3% y/y.
  • On Tuesday RBA Deputy Governor Bullock speaks on “Climate change and central banks” at 1740 AEST.
  • July CPI is out on Wednesday and is forecast to moderate to 5.2% from 5.4% with projections in a wide range between 4.7% and 5.9%.
  • There is quite a bit of housing/building data this week. On Wednesday Q2 construction is released and forecast to rise 0.8% q/q after +1.8% in Q1. Building approvals for July are also out and projected to fall another 0.5% m/m after -7.7%. July housing finance is published on Friday and expected to be flat after falling 1% m/m. Total private sector credit is due Thursday and is forecast to rise 0.3% m/m in July following 0.2%. CoreLogic August house prices are on Friday and they have been rising since March.
  • Q2 private capex prints Thursday and is projected to rise 1% q/q after 2.4%.
  • The final August Judo Bank manufacturing PMI is released Friday. The preliminary eased to 49.4 from 49.6 in July.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.