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Survey Data Focus Of The Week

AUSTRALIA DATA

The week will be dominated by survey data which contains important inputs into the monetary policy outlook.

  • Today ANZ-Indeed jobs ads for July print. They fell 2.5% m/m last month.
  • Westpac consumer confidence for August is released on Tuesday and should rise on the back of the RBA’s second pause in August. It rose 2.7% m/m in July after that decision to keep rates unchanged. The breakdown of responses pre-/post-meeting is always interesting.
  • NAB’s business survey for August is also due on Tuesday. Confidence has been volatile lately but while conditions have moderated they remain robust. The price/cost components are likely to be monitored closely.
  • On Thursday, the Melbourne Institute’s consumer inflation expectations for July are due. Last month they held steady at 5.2%. The lower-than-expected Q2 CPI data hitting headlines may be enough to reduce inflation expectations.
  • On Tuesday, the RBA’s acting head of domestic markets Schwartz will speak at 0905 AEST on “Australian financial markets and climate change”. There are no other RBA events scheduled for the week.

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