What to watch this week

In the US, it will be a relatively quiet week on the data front with data for small business confidence (Tuesday), labour market indicators (Wednesday) and producer prices and consumer confidence (Friday). Expect producer price inflation to have remained benign. The big focus internationally is likely to be on Chinese economic data for August. This is expected to show continued softness in exports and imports (Tuesday), a further rise in headline inflation (Wednesday) to 1.9% year-on-year due to higher pork prices but non-food inflation remaining around 1.1% year-on-year and producer prices falling around 5.5% and a stabilisation/slight improvement in growth in industrial production, retail sales and investment (Sunday). Money supply and credit data will also be released. In Australia, expect China/global uncertainties to have weighed on business confidence (Tuesday) and consumer confidence (Wednesday), July housing finance to have risen slightly (also Wednesday) and August employment data to be flat with unemployment remaining at 6.3% (Friday). A speech by RBA Deputy Governor Lowe (Wednesday) will also be watched for any clues on interest rates. To read the market wrap (VIEW LINK)

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