Australia & NZ Westpac Economics Weekly

This week, apart from Greece, the focus will be on the RBA and the Australian labour force survey. For the RBA, no change is expected, both by the market and Westpac. But we will be looking to gauge whether their easing bias has been strengthened. For the labour market, a pull back in jobs is expected in June, taking the annual rate of growth back to around 1.7%yr – broadly in line with the leading indicators. Offshore, the minutes to the last FOMC meeting are scheduled to be released mid week, while FOMC Chair Yellen will be speaking on the economic outlook on Friday. Of course, all financial market participants will continue to assess the state of play in Europe as negotiations recommence following Sunday's referendum. (VIEW LINK)