Next Week At A Glance

This story features NATIONAL AUSTRALIA BANK LIMITED, and other companies. For more info SHARE ANALYSIS: NAB

By Greg Peel

There are no economic releases of significance in the US tonight and the one highlight of earnings results will be that of Dow component Verizon.

Europe will be more in focus with the release of the monthly IFO business survey in Germany and an estimation of the eurozone's current debt to GDP ratio. The US dollar is currently dominated by nervous shorts, and any weakness in the euro could correspond to a sharp retracement in the dollar which in turn would lead to stock and commodity price weakness.

Housing will be a feature of next week's US data with all of existing homes sales, new home sales and the FHFA and Case-Shiller house price indices being released. Additional releases include the Chicago Fed national activity index and regional PMI, the Conference Board and Michigan Uni consumer confidence surveys, and durable goods orders. On Friday the first estimate of third quarter GDP will be announced.

Next week the US Treasury will auction US$99bn of two, five and seven-year notes.

On Thursday the RBNZ will make a rate decision as will the Bank of Japan. The BoJ recently dropped its rate to zero but forex traders will be wary of renewed intervention in the yen. The first estimate of UK third quarter GDP will be released on Tuesday.

It's inflation week in Australia, with the third quarter PPI due on Monday and the CPI on Wednesday, to which the RBA will be paying close attention. September private sector credit data follow on Friday.

On the local stock front it's a bumper week for AGMs with the odd straggling resource sector production report thrown in. National Bank ((NAB)) will report its full-year result on Wednesday and ANZ Bank ((ANZ)) on Thursday while Macquarie Group will report its interim result on Friday. 

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.

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