Next Week At A Glance

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This story features QBE INSURANCE GROUP LIMITED.
For more info SHARE ANALYSIS: QBE
The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

By Greg Peel

Today in the local zone brings manufacturing PMIs from Australia and China and the UK, eurozone and US will report same tonight. While the US result is always closely watched it will be somewhat overshadowed this month by the coincident release of the March jobs numbers. Economists are looking for a number above 200,000.

What may well be the highlight of the week may occur on Monday night when Fed chairman Ben Bernanke is due to make a speech. The hawks amongst the FOMC have been emerging from their…wherever it is hawks emerge from (eyries?)…all this week with four individuals all making a case for interest rate rises one way or the other, suggesting QE2 may not only be set to expire in June as planned, but perhaps even earlier.

It's otherwise a quieter week on the US economic front next week with the services PMI, consumer credit, chain store sales and wholesale trade being the highlights. The minutes of the previous FOMC meeting are due on the Tuesday night but may well be made redundant by whatever Bernanke says on the Monday.

It's also decision time this week for both the ECB and the Bank of Japan. The ECB has all but already confirmed it will make its first post-GFC rate hike on the Thursday night to counter rising inflation and also hinted that it might mark the beginning of a tightening phase. For the BoJ it will be a chance to update the situation regarding post-quake stimulus.

It's also decision week for the RBA, and that decision will be to remain on hold. What Tuesday's statement will provide nevertheless is the first commentary with respect to various geopolitical factors that dominated March trading.

Economic releases in Australia next week include ANZ's job ads survey, the TD Securities monthly inflation gauge, the trade balance, housing finance, and on Thursday, unemployment.

Amongst the handful of local AGM's next week, QBE Insurance ((QBE)) will be well attended.

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.

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