FYI | Aug 20 2007
By Greg Peel
Economic data have not exactly been the major influence on movements in US stock markets these past couple of weeks, but the fact this week is almost devoid of data may be a good thing in terms of allowing the market to settle (if that is possible).
The July leading economic indicators are out tonight – which will be interesting – but then there’s nothing until Friday’s July durable goods and new home sales.
Nor are we inundated with data in Australia. Wednesday sees July new vehicle sales, August skilled vacancies and the Westpac leading indicator. That’s about it.
Elsewhere we will learn the RBNZ’s inflation expectations survey results on Wednesday, and the Bank of Japan will announce its rate decision on Thursday. The BOJ had been widely expected to raise, but in light of world turmoil, a collapsing Nikkei, and the vicious unwinding of the carry trade, there is now strong doubt as to whether a rise will be forthcoming. On Friday the UK announces second quarter GDP.
This week is the first of the two busiest weeks in this year’s August results season in Australia, which will keep analysts and FNArena staff alike rather busy.
Happy trading.
