Next Week At A Glance

This story features BANK OF QUEENSLAND LIMITED. For more info SHARE ANALYSIS: BOQ

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

There will be no US jobs number release tonight as scheduled due to the government shutdown. The lack of data will ensure the tapering debate will remain in the background as the shutdown takes the spotlight. We enter the weekend with no end in sight as yet to the impasse.

Wall Street has been concerned the shutdown will run up to the October 17 debt ceiling debate and an ongoing lack of resolution would imply a never before seen US debt default. Last night House Republican leader John Boehner indicated he would not let that happen. Meanwhile, the US economy is losing output at a vulnerable time.

Next week’s scheduled US data releases include consumer credit, the trade balance, wholesale trade, the Treasury budget, PPI, business inventories and retail sales. As to whether we actually see any of those is another matter. We will presumably see the minutes of the September Fed meeting nevertheless, along with chain store sales and the Michigan Uni fortnightly consumer sentiment gauge.

Australia’s jobs numbers will definitely be released next week, along with ANZ job ads, NAB business confidence and Westpac consumer confidence.

Bank of Queensland ((BOQ)) will report its full-year result next week and the AGM season will move into first gear.

The NSW/ACT/QLD/SA Labour Day holiday on Monday will mean a lack of activity in many quarters, including bank and broker research. The ASX is nevertheless open, as is FNArena, albeit in limited form.

Daylight Savings begins on Sunday in the relevant states which means that from Tuesday morning, the NYSE will close at 7.00am Sydney time. The SPI Overnight will close at 8.00am.
 

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