Weekly Reports | Sep 11 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
Beijing will release August industrial production, retail sales and fixed asset investment numbers on Sunday. Given the market has established for itself a “put option” of belief bad numbers will only prompt more stimulus from Beijing, we might consider good to be good and bad to be good too. But given elevated market fear, anything might happen on Monday.
As we entered September, it was considered two US economic releases will be of most importance to the Fed ahead of next week’s FOMC meeting. One was jobs, which featured a fall in unemployment into the Fed’s target zone, and other was inflation. Tonight sees the PPI and most importantly, Wednesday sees the CPI data. Mind you, Wednesday night is also when the Fed delivers its decision.
Further US releases during the week include industrial production, retail sales, inventories, housing sentiment and the Empire State activity index before the Fed meeting, and housing starts and leading economic indicators after the meeting. Next Friday is the quadruple witching derivatives expiry.
There’s plenty of data for the eurozone to mull over next week but given Mario Draghi has made his intentions clear, in stark contrast to Janet Yellen, their impact will be limited.
The Bank of Japan will meet on Tuesday and the Kiwi June quarter GDP result is due on Thursday.
The Australian market will also see a major quarterly derivatives expiry, on Thursday, in a week otherwise largely devoid of economic data releases. The minutes of the RBA meeting and an RBA Bulletin provide the highlights.
On the local stock front, the run of ex-divs begins to thin out next week while earnings results from retailers come to the fore.
Bring on the Fed.
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