All the way with USA?
If the US sneezes, Australia can catch a cold, so all eyes will be on the US economy this week as President Joe Biden’s US$1.9 trillion stimulus package looks set to clear its final hurdles.
The US Senate voted last week to approve a budget reconciliation process that could allow Biden’s COVID-19 rescue package to be pushed through quickly to restore the economy’s health.
It comes as Wall Street continues to sweat over so-called meme stocks, with pressure mounting for regulators to intervene.
The release of US employment trends on Tuesday will be closely watched, while Australian markets will track key business confidence reports from the big banks.
CNY China Trade Balance
Is Australia’s manufacturing sector recovering?
US Employment Trends
Are jobs harder or easier to get as the US economy struggles through COVID?
NAB Business Confidence
How is Australia’s economy faring amid global challenges?
Westpac Consumer Sentiment
Are Australian consumers spending or saving?
Aussie retail trending up - but can it last?
Keep an eye on US retail stocks as well as Australian retailers with a presence in the US.
Black Friday retail sales have become one of the biggest events events on the retail calendar.