Just as Friday’s US jobs figures were important for US and other markets, our jobs data this week will be vital for ours.
Our labour market data for February will follow five months of solid gains in employment.
The AMP sees a broadly flat outcome in February to result in unemployment remaining unchanged at 5.3%.
Other forecasts are for a fall to 5.2% and a few thousand jobs to be created.
Another surprise like January with a large rise in new jobs and a fall in the unemployment rate, would bring speculation that the Reserve Bank will boost rates at its April 6 meeting after lifting them last week to 4%.
Housing finance, business and consumer confidence will all be released.
The ANZ’s job ads survey for February is out tomorrow.
The one day delay is because there’s a public holiday today in Victoria, Tasmania, the ACT and South Australia, but the ASX will trade normally.
A speech by RBA Assistant Governor Phil Lowe midweek will also be watched closely for clues as to the next interest rate hike.
The Australian Bureau of Statistics releases lending finance figures.
A couple of results: Myer’s first half figures and in New Zealand, The Warehouse Group’s interim.
US data to watch in the week ahead includes figures on the trade balance, retail sales and consumer sentiment.
The Thomson Reuters/University of Michigan preliminary sentiment reading for March is expected to be unchanged from the final February reading of 73.6.
The US trade balance is tipped to rise slightly and business inventories for January should show a rise.
February’s retail sales are forecast to show a strong rise after the solid increase reported last week by some of the country’s biggest chains.
Just a few S&P 500 companies are expected to report results next week, including the biggest US supermarket group, The Kroger Co and Brown-Forman Corp, the big liquor maker and distributor.
Thomson Reuters says that more than 70% of the S&P 500 companies have beaten earnings estimates for the fourth quarter, well above the 61%.
But that shouldn’t have been hard given how low earnings were a year ago.
Japan’s second estimate of 4th quarter growth will be released on Thursday.
Chinese economic data on inflation , production, retail sales, house prices and asset growth for February will be released.
They will be influenced by the Lunar New Year break of a week or more.
The annual gathering of China’s National People’s Congress is in the spotlight this week.
It will rubberstamp the decisions on growth, lending, inflation and other policies revealed on Friday.
Once it finishes, watch for a rate rise from the central bank in coming weeks
Rate decisions from Korea’s and Thailand’s central banks are expected this week.
