Coles earnings loom as Australian markets brace for inflation data and business council warnings

Australian equities are poised for Coles' earnings release, a focal point of a packed August reporting schedule that features companies such as Wesfarmers, Harvey Norman and Qantas. Traders are closely watching forthcoming inflation figures, which are expected to guide the Reserve Bank's interest-rate policy. Simultaneously, the Business Council of Australia's annual dinner will host chief executive Bran Black, who will speak to roughly 80 CEOs, ministers and Prime Minister Anthony Albanese, calling for policies that improve the nation's investment appeal and productivity.

The council noted Australia’s 21st-place ranking on its competitiveness index and outlined a plan to reach the top ten. Meanwhile, Bapcor's shares have plunged 83% after a sudden CEO withdrawal, underscoring volatility in the retail and automotive sectors. Market data show modest gains in ASX 200 futures and mixed movements in global indices and commodities.