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What to Watch - Week of 9 June

A quiet week locally in a holiday shortened week, with the NAB Business survey and the WBC Consumer Sentiment index (Tues) the highlights. Globally, focus remains on tariff/trade developments with the data docket championed by US CPI (Weds) and PPI (Thurs) and if there are any impacts from those tariffs. Here’s what to watch in the week ahead.
NAB Markets Research
10 June 2025
Created by potrace 1.15, written by Peter Selinger 2001-2017 2 min read

Tapas Strickland & Taylor Nugent | Markets Research

Past Week

  •  Australian GDP was a soggy 0.2% q/q, weighed by a fall in public demand.
  • The data confirmed consumer momentum into 2025 has also been weaker than the RBA earlier expected
  • Offshore, the ECB cut as expected but President Lagarde said they were ‘getting to the end of a policy cycle’
  • US data flow has been a little softer, but will be overshadowed by Payrolls
  • The AUD outperformed against a weaker US dollar, up 1.3% to 0.6501 

Week ahead

  • Australia has a quiet start with a Monday Public Holiday across all states except for QLD and WA. The NAB Business Survey and the WBC Consumer Sentiment (Tuesday) highlights in what is also a quiet week for data
  • Across the globe it is a relatively quiet week as well with most focus still on tariff/trade developments given the US’ self-imposed 9 July deadline is nearing. Note US and Australian data has disappointed over the past week
  • In the US the CPI (Wednesday) and PPI (Thursday) will be closely watched for tariff impacts. Jobless Claims (Thursday) also worth a look after last week’s rise. Auctions too: $39bn of 10yr and $22yrbn of 30yr
  • Across the pond in the Eurozone, it is quiet with no top-tier data apart from the ECB Wage Tracker (Wednesday)
  • The UK has some important data flow, including Earnings/Unemployment (Tuesday), Monthly GDP (Thursday) and the Chancellor’s Spending Review (Wednesday)
  • In China, the Trade Balance, CPI and PPI (all Monday) will be watched closely for trade impacts
  • Japan has little in the way of top-tier data
  • There is also little of note on the NZ calendar apart from the pre-GDP partial of Manufacturing Activity (Monday) and the BNZ PMI (Friday)

View the full report here

Chart 1: Data is disappointing expectations in Australia and the US

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