Weekly Reports | Jun 15 2012
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
I'm not even going to attempt to ponder what the world might look like on Monday. All you need to know is that an election will be held in Greece which will determine whether we must endure sudden, sharp pain or more years of lingering, frustrating pain.
It might be a good idea to keep in mind the fact that the retirement funds of hardworking and dutiful tax-paying Australians have been and will probably yet still be undermined by overpaid, underworked Greeks who don't think they should pay tax. No sympathy.
Next week's data releases seem somewhat irrelevant at this point, but here they are anyway.
Tonight in the US sees industrial production, the Empire State manufacturing index, and the fortnightly consumer sentiment measure. It's options expiry night, which in itself often sparks volatility. Both the UK and eurozone will release monthly trade balances.
Next week in the US sees housing sentiment, housing starts, existing home sales and the FHFA house price index, along with the Philly Fed manufacturing index. The Fed will release a monetary policy statement on Wednesday and Bernanke will hold a press conference, albeit the Fed may well be forced to act before Wednesday.
We'll learn why the RBA chose to cut its cash rate by 25 basis points as the minutes are released on Tuesday, but once again, Sunday could change everything. New Zealand, ever efficient, will release its March quarter GDP result.
There will be property price data out of China next week and on Friday HSBC will release its flash manufacturing PMI estimate for June.
Good luck.
