Weekly Reports | Feb 26 2016
For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
By Greg Peel
Australian corporate reporting seasons typically end on the last day of the month but most companies like to to get their results out by the final Friday. Thus beyond a couple of stragglers next Monday, today is as good as the last day of the season.
Now can all get some sleep.
But attention will quickly turn to the economy, which has been taking a bit of a background role this month.
Next week sees December quarter readings for company profits and inventories and the current account, including the all-important terms of trade, ahead of the ultimate GDP result on Wednesday.
In monthly terms we’ll see the manufacturing and service sector PMIs, building approvals, trade numbers and retail sales. The RBA will meet on Tuesday and while no change is expected, rate cut pressure is quietly building.
Tuesday is manufacturing PMI day across the globe and in the case of China, official service sector PMI day as well. Everyone else will release services PMIs on Thursday.
It’s jobs week in the US, which is always a lark for Fed-watchers. Ahead of Friday’s non-farm payrolls release the US will also see numbers for pending home sales, vehicle and chain store sales, the Chicago PMI, construction spending, private sector jobs, factory orders, trade and the PMIs. The Fed Beige Book is out on Wednesday.
Note that while the local results season may be wrapping up, we’ve already morphed into the subsequent ex-dividend season and they’ll start coming thicker and faster from here, acting as a drag on the index.
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