Next Week At A Glance

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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

Next week is shaping up to be a biggie, both domestically and internationally. We'll start at home.

There are few economic data releases due for Australia next week but what we'll see are important. We are now beginning the countdown to the September quarter GDP release and to that end we'll see quarterly figures for construction work done and for CPI inflation. The RBA has often held off policy decisions until CPI data comes in but given the cut this month, and now persistently low inflation, one presumes this figure alone will not be the prime determinant of whether the central bank goes again on Cup Day.

To that end, next week in Australia will be dominated by corporate news. Next week and the week after are the busiest in the fiscal calendar for listed company AGMs. We'll also see a further raft of resource company quarterly production reports, quarterly funds flow numbers from AMP ((AMP)), quarterly retail sales figures from Wesfarmers ((WES)), an interim profit result from Macquarie Group ((MQG)), and a full-year result from ANZ Bank ((ANZ)).

Plenty to keep analysts busy.

Speaking of GDPs, the UK will provide an initial estimate of September quarter GDP on Thursday and the US will follow suit on Friday. Germany's monthly IFO business confidence survey will also be released and there will be a lot of flashing going on. We'll see early estimates for the manufacturing PMIs of China, the eurozone and US. 

The US will also provide data on house prices, new and pending home sales and durable goods, among other releases. The Fed will meet and issue a new policy statement on Wednesday but with QE3 now in place and zero rates pledged until 2015, little response is anticipated.

The EU leaders meeting underway in Brussels will conclude tonight but know one is expecting any bombshells. US existing home sales data will be closely watched, however.
 

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