This Week's Economic Calendar
Australia
- Tuesday: Federal budget to be released; April business conditions data due.
- Wednesday: Q1 Wage Price Index expected to show quarterly growth of 0.8% and annual growth easing to 3.3%; Q1 housing finance approvals expected to show robust gain.
- Thursday: May inflation expectations due.
International
- Monday (China): April CPI data. (US): April home sales.
- Tuesday (US): April CPI; April small business optimism.
- Wednesday (EU): Q1 GDP; March industrial production.
- Thursday (China and US): Meeting between Xi Jinping and President Trump. (UK): Q1 GDP. (US): April retail sales.
- Friday (China and US): Second day of Xi-Trump meeting. (US): April industrial production.
Key Details
The Australian federal budget may include changes to capital gains tax discount and negative gearing. Westpac described it as "possibly the most interesting budget in a decade."
- Q1 Wage Price Index data to be released Wednesday.
- Q1 housing finance approvals to be released Wednesday; previous quarter saw 9.5% increase driven by first home buyer activity after federal government's 5% deposit scheme.
- The Xi-Trump meeting in Beijing is scheduled for Thursday and Friday, with topics including trade, investments, Iran, and Taiwan. An official confirmation from China is pending. Societe Generale suggested the summit may lead to an extended detente in US-China tensions.