Economic wrap and key events ahead - Westpac

Analysts at Westpac offer an economic wrap.

Key Quotes:

"US labour conditions index, a composite of already released labour data, increased by 1.0 (vs 0.0 expected). This breaks a string of six monthly declines and is consistent with the bounce in the latest payrolls series.

Eurozone investor confidence (Sentix) improved from 1.7 to 4.2 (vs 3.0 expected).  

Economic Event Risks Today

Australia: NAB business confidence. The conditions index rose 2pts in June. At 12, the index is well above its long-run average

China: CPI and PPI.  CPI continues to lose momentum. From 1.9%yr in June, inflation should moderate to 1.8%yr in July. For PPI, the lagged impact of earlier commodity price weakness continues to linger."