There were no major data releases on Friday from Australia. Traders are being cautious ahead of next week's RBA rate decision as well as GDP data. Australia's terms of trade have fallen 30% since 3Q11, a compelling drag on the currency and nominal GDP in recent years. But for 2016, we do not have a lot of shape in our forecast profile for the terms of trade, largely because we see Australia's major commodity prices as mostly range bound in the year ahead.
Monday's session will bring Company Operating Profits data. Analysts are predicting 1.1% increase. In the US session Chicago PMI and Pending Home Sales figures will be published. Chicago PMI is expected to decrease to 54.3, while Pending Home Sales should mark 1.6% rise.
Figures to watch:
Company Operating Profits (Monday 1:30)
Chicago PMI (Monday 15:45)
Pending Home Sales (Monday 16:00)
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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