A busy calendar with a Federal Reserve speaker later also
2245GMT - New Zealand - Card spending for June
- Retail m/m, expected is +0.8%, prior was -0.4%
- Total card spending m/m, prior was -0.2%
2301GMT- UK - BRC like-for-like sales for June
- expected +0.5% y/y, prior -0.4%
2330GMT - Australia - Australia data - ANZ-Roy Morgan weekly consumer confidence
- prior a jump to 114.5
2350GMT - Japan - money stock for June
0130GMT - Australia - National Australia Bank business conditions and confidence for June
- priors 12 and 7 respectively
This will be a focus today. Business conditions fell slightly in May, but are around historically high levels. Business confidence, on the other hand, fell sharply last month, but is above long-run average levels
0130GMT - Australia housing finance for May, also a focus
- Home loans m/m, expected is +1.5%, prior was -1.9%
- Investment lending m/m, prior was -2.3%
- Owner-occupied loan value m/m, prior was -1.1%
The previous month's data (for April) were the first to reflect the new macroprudential measures meant to pull back investor lending and thus runaway house prices. The RBA is concerned about high levels of mortgage debt as a threat to both financial stability at household spending (and thus the level of economic activity).
0305GMT - Federal Reserve Williams speaks at an Australian Business Economists lunch event. Willaims is head of the San Francisco Federal Reserve branch.
- Topic is: Speed limits and stall speeds: Fostering sustainable growth in the United States
- This is expected to be the same speech as he gave on June 26
