The Week Ahead

• A more constructive tone carries into the new week, with geopolitical pressures easing on the back of progress in US-Iran negotiations and ECB officials striking a more measured note.
• It is a relatively light week on the data front. Tonight’s June ISM Services survey is the early highlight in the US, with the June FOMC Meeting Minutes due Wednesday the other key event to watch.
• Locally, this morning brings the Melbourne Institute’s June inflation expectations print – last recorded at 4.4% – alongside ANZ-Indeed job advertisements for June.
• Later in the week, RBA Chief Economist Sarah Hunter speaks at the Australian Conference of Economists on Wednesday at 11am, in a session focused on supply shocks and their implications for monetary policy.