Monday Money Mate — 8 Feb 2021
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.
Monday
CNY China Trade Balance
Chinese economy health check: will China’s exports exceed its imports?
Tuesday 02:00am AEDT
US Employment Trends
Are jobs harder or easier to get as the US economy struggles through COVID?
Tuesday 11:30am AEDT
NAB Business Confidence
How is Australia’s economy faring amid global challenges?
Wednesday 10:30am AEDT
Westpac Consumer Sentiment
Are Australian consumers spending or saving?
Aussie retail trending up — but can it last?
Afterpay is smashing it on the stock market, and Australia’s retailers are buoyant, especially in the food sector where the ABS says Aussie households are spending more than AUD$800 million a month on online grocery shopping.
This week we’ll see a key consumer confidence report from Westpac, which could offer key insights into whether Aussies are keen to continue their spending or knuckle down and save their pennies.
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