The thoughts of Reserve Bank senior officials will be scoured for insight into interest rates, inflation expectations and the global economy this week.

RBA governor Philip Lowe on Sunday afternoon will take part in a panel discussion at a G20 finance ministers and central bankers meeting side event in Bali.

The seminar is focused on the issue of digital currencies and crypto assets.

Dr Lowe is accompanied at the G20 meeting by Treasurer Jim Chalmers, who told the forum on Friday collective action was needed to deal with the global economic pressures triggered by Russia’s illegal invasion of Ukraine.

On Tuesday, the RBA will issue the minutes of its July 5 board meeting at which it hiked the cash rate by 50 basis points to 1.35 per cent.

ANZ-Roy Morgan will also release the weekly consumer confidence survey on Tuesday.

Confidence dropped 2.5 per cent last week with consumer expectations of inflation hitting a 15-week high of six per cent. 

With the official jobless rate dropping to 3.5 per cent last week – the lowest since 1974 – there are signs higher inflation will around for some time yet, putting upward pressure on interest rates. 

Also on Tuesday, RBA deputy governor Michele Bullock will deliver a speech at the Economic Society in Brisbane, which will be closely scrutinised for indications of the size of the next rate hike widely expected to be announced on August 2.

On Wednesday, Dr Lowe and Dr Chalmers will deliver speeches at The Australian newspaper’s Strategic Business Forum in Melbourne. 

The National Skills Commission will on Wednesday release figures from the Internet Vacancy Index and Vacancy Report.

CommSec’s Ryan Felsman said the release of the detailed data will put more pressure on the federal government to address the chronic shortage of workers, with job vacancies at 14-year highs. 

Westpac will also on Wednesday issue its leading index for June.

On Thursday, OECD secretary-general Mathias Cormann will address an Australia-Israel Chamber of Commerce event in Perth.

S&P Global will shed light on Friday on business activity with the release of its July advance results of surveys of purchasing managers.

US stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fuelled by upbeat earnings, strong economic data and easing fears of a larger than expected interest rate hike.

That saw all three major US stock indexes post solid gains, setting up the Australian share market for a robust start to the week.

The Dow Jones Industrial Average rose 658.09 points, or 2.15 per cent, to 31,288.26, the S&P 500 gained 72.78 points, or 1.92 per cent, at 3,863.16 and the Nasdaq Composite added 201.24 points, or 1.79 per cent, at 11,452.42.

Australian futures rose 57 points, or .87 per cent, to 6559.

After falling by 113 points, or 1.7 per cent, in the first 45 minutes of trading, the benchmark S&P/ASX200 index climbed more or less steadily to finish Friday down 45 points, or 0.68 per cent, at 6,605.6.