A raft of central bank decisions in Australia, India, Japan and Thailand alongside Chinese trade data are expected to be the key focal points in Asia this week. The week begins in Australia with the release of June retail sales. Analysts expect to see a 0.3 to 0.4 percent bounce in the reading after dropping 0.5 percent on month in May.
“Improved consumer confidence has helped discretionary spending recover after softness earlier in the second quarter from the tough federal budget. Low interest rates coupled with wealth effects from higher house prices will lift spending through the second half of 2014,” said economists at Moody’s Analytics in a note.
Australia will stay in focus on Tuesday. The government will released the country’s June trade report. The trade balance is expected to remain mired in a deficit after widening to A$1.9 billion in May with lower commodity prices for iron ore seen weighing on exports.
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