What’s Happening Next Week?

This story features ENERGY RESOURCES OF AUSTRALIA LIMITED, and other companies. For more info SHARE ANALYSIS: ERA

By Chris Shaw

Given its position as the main driver of the global economy at present, economic information on the health of the Chinese economy has taken on greater importance in recent months, so data expected out of China next week will be closely watched by investors.

The releases begin on Monday with June trade balance numbers and will be followed on Thursday by June quarter GDP data and on Friday with producer and consumer price index figures, retail sales and industrial production numbers for June as well as fixed asset urban investment numbers.

Close neighbour Japan will also provide a range of figures starting with industrial production and capacity utilisation numbers for May and June, consumer confidence results on Monday, the latest Bank of Japan interest rate decision on Wednesday, May tertiary industry index data on Thursday and May coincident and leading indicator numbers on Friday.

Domestically the releases are fewer in number as Australian investors will have only May lending finance numbers on Monday, National Bank business condition and confidence data for June on Tuesday, May lending index and March quarter building activity details on Wednesday and June quarter import and export price index numbers on Friday, while sandwiched in on Thursday will be the latest bulletin from the Reserve Bank. Over in New Zealand there will only be May retail sales numbers on Monday and June business PMI on Thursday.

From Europe the market will be looking for May industrial production and July economic sentiment survey results on Tuesday, June CPI details on Wednesday and construction output and trade balance numbers for May on Friday. The UK will be similarly quiet with just June CPI, house price and retail price index numbers on Tuesday and May unemployment numbers on Wednesday.

The monthly budget statement for the US for June will be released on Monday, Tuesday sees June PPI and retail sales and May business inventory numbers come out and on Wednesday there will be the latest FOMC minutes along with June CPI, capacity utilisation and industrial production details and July Empire Manufacturing survey results.

This will be followed on Thursday by the latest update on net long-term TIC flows and the weekly initial jobless claims data along with the July Philly Fed. survey results and NAHB housing index data, while on Friday there will be updates on housing starts and building permit numbers for June.

On the corporate side, things are set to be relatively quiet given the approach of profit reporting season with the calendar at present showing only some quarterly production reports from mining companies such as Energy Resources of Australia ((ERA)), Rio Tinto ((RIO)) and Iluka ((ILU)) along with extraordinary general meetings for Minerals Corporation ((MSC)) and Bathurst Resources ((BTU)).

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

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