Weekly Reports | Mar 06 2015
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By Greg Peel
The race to the bottom continues a-pace among all global economies that do not start with a "U". With the eurozone now upping the ante with QE, commentators believe it's only a matter of time before Japan is forced to counter. China will no doubt maintain its incremental easing approach and even in Australia, further rate cuts are assumed.
Meanwhile, the UK has left its cash rate and QE level unchanged for six years now and the US is facing a rate rise. Tonight's non-farm payrolls report will provide the next point for discussion within the US rate rise timing debate. Meanwhile, the US dollar soars ever higher, undermining US growth potential.
China will be clearly in the frame next week. February trade data will be released over the weekend, while inflation data is out on Tuesday and industrial production, retail sales and fixed asset investment numbers are out on Wednesday.
It's a quiet week in the US data-wise until week's end, when the PPI will provide for further rate rise discussion and consumer sentiment will be gauged.
Australia's jobs numbers are out on Thursday and ahead of those we'll see ANZ's job ads series, along with the NAB business and Westpac consumer confidence surveys. Wednesday's housing finance numbers will also be closely scrutinised in the context of assumed further RBA rate cuts.
The ex-dividend flow for the local market continues through next week with the big one being BHP Billiton ((BHP)) on Wednesday.
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