All that points to a strong global economy.
US, Eurozone and Japanese shares rose over the last week.
But while US stocks are at an all-time high, Australian shares have remained relatively weak, with the benchmark S & P/ASX200 closing on Friday down 0.3 points, or 0.01 per cent, at 5651.8 points, with the market dragged down by the banks. The total return from the Australian share market in the last quarter was only 1 per cent when dividends are added in.
The Australian stock market is reflecting a relatively less positive growth and profit outlook compared to overseas.
As a result, the ASX SPI 200 futures are down 0.1 per cent at 56901, pointing to a flat start on Monday.
Business sentiment will be critical this week.
Which is why the NAB business conditions survey on Tuesday will be important for investors to assess whether there has been any slippage.
Wednesday’s data on consumer confidence will also be significant. Added to that will be Wednesday’s release of the ANZ’s latest quarterly survey of the property sector.
Investors will be watching out for Thursday’s housing finance figures from the Australian Bureau of Statistics
The Reserve Bank of Australia’s semi-annual Financial Stability Review on Friday is expected to reveal how RBA assesses what progress is being made reducing property market financial stability risks.