Weekly Reports | Jun 19 2015
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
Once we get through tonight’s quadruple witching expiry on Wall Street, the focus will all be on Greece, although something may yet occur during tonight’s trading.
A report stemming from last night’s eurozone ministers’ meeting suggests Greek banks may have to shut their doors on Monday. Whether or not this is an accurate assessment, the report itself may yet prove self-fulfilling, such that tonight would see a run on Greece’s banks just in case, forcing a shutdown.
EU leaders have brought forward their own meeting scheduled for later next week to Monday, suggesting a crisis meeting.
Watch this space.
Back in the real world, China will be closed on Monday before HSBC releases its flash estimate of China’s June manufacturing PMI on Tuesday. Similar flashes will also come from Japan, the eurozone and US.
Germany’s IFO business sentiment survey, due on Wednesday, may end up being redundant depending on what happens in the next few days.
Meanwhile, the US will see a lot of data releases next week, including existing and new homes sales, house prices, durable goods, personal income & spending, consumer sentiment and the Chicago and Richmond Fed activity indices.
The US will also see the last revision of March quarter GDP ahead of the first estimate of June quarter GDP next month.
Australia is largely devoid of major economic releases next week. On Thursday, quarterly stock options will expire on the ASX.
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