The biggest data event this week will be the latest read on inflation to be issued by the Australian Bureau of Statistics this Wednesday, although the release of the Reserve Bank of Australia’s annual report will also be noteworthy.
Offshore, key housing indicators out of the US and China will be of interest, while a potential backlog of economic data held back by the US Government shutdown should give investors plenty to digest this week.
Regarding financial markets, our share market looks set to open higher this week following a strong gain on Wall Street last Friday that took the market to a new all-time high. Interest rates are continuing to drift higher as financial markets unwind expectations of future rate cuts. The Australian Dollar continues to rally against a softer US Dollar, trading this morning at a five month high of USD0.9670 thanks to some strong Chinese economic growth numbers.