Daily Commentary BY THE CURVE TEAM –

Busy Week of Data

29th of March, 2021

After a very quiet week of data releases there are multiple updates this week.

Credit data for February headlines the week and is released on Wednesday. Building approvals for February are also released on Wednesday.

Trade balance data for February is released on Thursday. Concluding the week is the final numbers for retail sales for February, with preliminary numbers indicating a fall of 1.1%.

All indicators will be scrutinised as the prelude to the end of JobKeeper. Anecdotally, the end of the payments has had an economic impact.

Estimates suggest that the strength of the economic recovery will minimise the impact of the payments ending. Most data releases lag the economy though, so it will take at least a couple of months for data to flow through to know the true impact.

The impact it has on employment and disposable income will be of most interest.

Josh Stewart

Associate - Money Markets