Weekly Reports | Apr 19 2013
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
It’s Anzac Day on Thursday next week, which will mean a few tumbleweeds on Friday on Bridge Street as well given we’re in the middle of school holidays. So call it a short week.
Resource sector quarterly production reports will come thick and fast next week, and the AGM season is burbling along as well. For the resource sector the attention in this round of reports will not be on how much was produced, nor even how much it was sold for, but just how much it costs to produce.
It’s a quiet week for economic releases in Australia except for one big one – the March quarter CPI on Wednesday. Economists are not expecting any sharp jumps in inflation and a soft result will only put pressure on the RBA to cut given apparent weakening in the global economic picture combined with a stubborn currency.
The US quarterly earnings season will roll on next week and if the first two weeks are anything to go by, there’s not much anticipation of a solid earnings-based rebound out of Wall Street’s current consolidation.
Economically it’s a big week in the US, culminating on Friday with the first estimate of March quarter GDP. In the lead-up, house price, home sale and durable goods data will be released, along with the Richmond Fed manufacturing index and a flash estimate of the April manufacturing PMI.
China will also flash its PMI next week, courtesy of HSBC, and the eurozone will do likewise. Germany’s influential IFO business sentiment survey is due as is a first estimate of the UK’s March quarter GDP.
There’ll be a rate decision in New Zealand ahead of the Anzac Day break and a “decision”, or more realistically an update, from the Bank of Japan on Friday.
FNArena will be “closed” on Thursday but fully accessible nonetheless.
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