What’s Happening Next Week?

This story features FRUGL GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: FGL

By Chris Shaw

With reporting season drawing to a close today (but watch out for at least one day of brokers catching up next week) attention will return to economic data and the coming week will provide plenty of releases both in Australia and from overseas to keep the attention of investors.

Domestically the focus will be on the Reserve Bank of Australia (RBA) meeting, with a decision on interest rates to be announced on Tuesday afternoon. Prior to this will be inflation data from TD Securities, December quarter company profits and inventory data on Monday. The rest of the week will see current account data on Tuesday, quarterly GDP numbers on Wednesday and building approvals on Thursday.

Limited data releases only are expected for the New Zealand economy, the most significant being commodity prices for February, due on Wednesday. Data updating on the health of the Japanese economy include January cash earnings scheduled for Monday and December quarter capital spending numbers due later in the week.

UK data includes net consumer credit and mortgage approval numbers for January, both due on Monday. PMI data is due Monday and Tuesday. February consumer confidence data is out on Wednesday and PPI numbers are expected on Friday. Thursday will also see the latest interest rate decision from the Bank of England, as well as from the European Central Bank.
Could this be the week that sees central banks cut by 50 basis points, no matter what country they’re in?

Other European Union data include Monday’s CPI numbers for February, PMI and PPI data over the first half of the week. January retail sales numbers on Wednesday and December quarter GDP and consumer expenditure numbers on Thursday.

From the US, data releases include PCE and ISM manufacturing data on Monday and vehicle sales and pending home sales numbers on Tuesday. The Fed Beige book and employment change data is on Wednesday, while non-farm productivity, factory orders and building permit numbers are due on Thursday. Lastly, consumer credit, unemployment and non-farm payroll data are on Friday.
But first, investors will have to digest Q4 GDP figures and the February non-farm payrolls report, both out later today. The first release is likely to show the US economy contracted by more than 5%. The second might generate a job losses figure in excess of 600,000 people. Remember last year when investors were shocked monthly job losses had exceeded half a million?

A number of Australian companies go ex-dividend next week including Foster’s ((FGL)), Qantas ((QAN)) and OneSteel ((OST)) on Monday, Adelaide Brighton ((ABC)), News Corp ((NWS)) and WA Newspapers ((WAN)) on Wednesday and GUD Holdings ((GUD)) on Friday.

For more information: see the FNArena calendar on the website (updated regularly) and Monday’s The Week Ahead.

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