Weekly Reports | Mar 07 2014
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
Tensions in the Ukraine and thus between Russia and the rest of the world have eased but are still simmering. When Putin sent the troops into the Crimea he was quickly forced to say “Comrade, I don’t think we’re in the Soviet Union anymore,” when the ruble tanked and Russian stock market plunged 12%. Yes Vlad, you’re part of a capitalist world now, and you need it.
Either way global markets have largely dismissed the geopolitical risk for now although US Treasuries are not expressing the same exuberance as the US stock market and gold has edged up on a watch and act basis.
Tonight sees the US jobs numbers released but they really will be a shot in the dark firstly, and then almost an irrelevance secondly if the Weather Put is exercised.
It’s a quieter week for US data next week with the highlights being retail sales and business inventories on Thursday and the Michigan Uni fortnightly consumer confidence measure on Friday.
China will be in the frame from this weekend, with the trade balance due tomorrow, CPI on Sunday, and industrial production, retail sales and fixed asset investment due on Thursday.
With Australia’s GDP result now in the bag, focus swings back to the ongoing monthly data. Next week sees housing finance and jobs numbers along with the NAB business and Westpac consumer confidence surveys.
The Bank of Japan will hold a policy meeting on Tuesday.
The US goes on to summer time this weekend so as of Tuesday morning the NYSE will close at 7am Sydney time, through to the weekend of April 6.
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