After weeks of monitoring headlines in the rest of the world, such as the wrangling over Greece's debt crisis, financial markets in Asia will likely turn their attention back home, with a flurry of economic data on tap this week.
Meanwhile, corporate earnings are starting to trickle in as Indian software giant Infosys and Singapore oil-rig builder and property developer Keppel Corp. prepare to release quarterly results in the week ahead. In Australia, investors will be eyeing Macquarie Group's annual general meeting on Thursday for clues on the company's earnings guidance and feedback on prevailing market conditions.
1. Australia: Q2 CPI
Scheduled for release on Wednesday, consumer prices down under are expected to rise 0.8 percent on-quarter in the April-June period, according to a Reuters survey, up from a 0.2 percent gain in the January quarter.
On a year-on-year basis, Australia's consumer price index (CPI) will likely increase 1.7 percent in the second quarter, the Reuters poll showed, thanks to a spike in petrol prices and higher import prices due to a weaker Australian dollar.
According to a note by AMP Capital, the inflation rate for the second quarter won't be weak enough to prompt the Reserve Bank of Australia (RBA) to lower interest rates immediately, but there remains a "50-50" chance of a rate cut in the months ahead due to signs of inflation slowing as the year goes on.
"The combination of significant spare capacity, record low wages growth and weak pricing power according to business surveys, suggests downwards pressure on inflation," Shane Oliver, head of investment strategy and chief economist at AMP Capital, wrote in a note released Friday.