A week driven by macro events gives way to local factors this week. Asia Pacific markets could turn to regional data and events to drive markets this week. Negative leads from US shares and a short term rally in safe haven assets may see trading start on a cautious note today.

With central bank agendas re-affirmed and the first of this year’s European elections producing a market friendlier result positive investor sentiment lifted continental shares. However, slightly weaker than forecast US industrial data took the edge off market enthusiasm. Shares fell, and gold and bonds rallied, possibly reflecting some concern at elevated stock price levels.

Topical house price and skilled vacancies data, and the release of RBA minutes, may see an inward looking approach from Australian investors this week. A number of sales and earnings releases will shed light on important sectors. Telco TPG, retailer Premier investments, Sigma Pharmaceuticals and investor and manufacturer Brickworks will all contribute to the corporate outlook.

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