Switzer Daily What to watch over the next week… 13 July 2021 Australian economic data was mostly good. Home building approvals fell sharply again in May reflecting the end of HomeBuilder but they remain strong and their lagged rise points to a further increase in dwelling construction. Retail sales were revised up in May and even if they fall -1% in June on the back of the lockdowns are on track for a strong June quarter rise. Meanwhile, payrolls are up 3.4% on pre-coronavirus levels and ANZ job ads rose another 3% in June. Finally, the Melbourne Institute’s Inflation Gauge points to a pickup in inflation in the June quarter but nothing like this