With a federal government finally confirmed and astonishingly good US jobs figures on Friday, Australian shares are set to open the week with a bang. 
Opposition Leader Bill Shorten conceded defeat on Sunday afternoon, ending a period of cloudy uncertainty for investors, who were already digesting the implications of political instability in Britain and Europe.
SPI futures were up 61 points or 1.2 per cent, after taking a strong lead from Wall Street. The Dow Jones closed up 1.4 per cent to 18146 points and the S&P 500 added 1.5 per cent to 2129 points on Friday. 
Following a dismal employment reading in   May, US non-farm payrolls in   June astounded market watchers on Friday night and eased fears of sustained deterioration in the US labour market. Non-farm payrolls gained 287,000 in   June, a significant advance from the 11,000 gain recorded in   May.
The resurgence of the US jobs data has prompted speculation the US Federal Reserve may look to raise interest rates in the near future.
"What a number, it was completely unbelievable and no one was expecting it and now the   July meeting may just become live again," said Naeem Aslam, chief markets analyst at Think Markets UK.
It's a big week for economic data, with the UK central bank meeting, local consumer sentiment readings and labour market data and Chinese growth and trade figures out towards the end of the week.
Investors will get a better read on local consumer sentiment, with National Australia Bank's business survey released on Tuesday and Westpac's consumer confidence reading on Wednesday.
The Bank of England meets on Thursday, the first since the historic Brexit vote and the subsequent 14 per cent crash in the pound.
Many market watchers expect the central bank to wait until the   August meeting to cut interest rates. However Capital Economics chief UK economist Jonathan Loynes sees no reason to wait following BoE governor Mark Carney's recent comments: "In my view, and I am not prejudging views of the other independent MPC members, the economic outlook has deteriorated and some monetary policy easing will likely be required over the summer."
As such, Capital Economics expects a 0.25 per cent cut in the UK cash rate on Thursday.
Also on Thursday, the Australian Bureau of Statistics releases the labour force report for   June, which will give some insight into underlying job creation and unemployment. The consensus view is for a headline decline of 10,000 jobs and a slight increase in the unemployment rate, from 5.7 to 5.8 per cent.
Monthly inflation expectations are also released on Thursday, and given recent low readings investors will be keen to note any shift that may increase the Reserve Bank's easing bias.
Indeed, outgoing RBA board member John Edwards has noted the importance of inflation expectations, saying: "The [inflation] target exists, and I think it will be desirable to return over time to the midpoint of the target, but I don't think it can be done urgently???The key thing is: are inflation expectations anchored around where they had been, and so far I think they probably are."
Investors are set for a "Super Friday" from China, with GDP, activity and spending released at the end of the week. China's importance to the global growth story means that second quarter GDP figures will be closely watched, however most economists remain wary of the official data given the growth rate is politically sensitive and Chinese officials will feel pressure to ensure targets are met.
The target range is between 6.5 and 7 per cent and the first quarter was recorded at 6.7 per cent. Consensus among economists is that this figure remains.