Weekly Reports | Jun 10 2011
By Greg Peel
Firstly an apology for scheduling the NAB business and Westpac consumer reports in the FNArena Calendar this week when they did not eventuate. Unfortunately the timing of these reports has become a moveable feast and that's throwing out everyone's third party calendars. I will endeavour to rectify the situation in the ongoing goal of producing the market's most valued financial calendar.
It now appears that the NAB business conditions and confidence survey for May will be released next Tuesday, but as for the Westpac consumer confidence report I will have to wait until Tuesday to confirm. The Westpac leading index and inflation expectations reports are nevertheless scheduled – so far – for next Wednesday.
Secondly, it's the Queen's Birthday long weekend in most of Australia this weekend which means the ASX is closed on Monday. It's the last ASX holiday before Christmas so make the most of it. I certainly intend to. But fear not, there will be an Overnight Report on Monday morning to cover tonight's trade while the regular Monday Report will shift to Tuesday morning.
Has the market now found a bottom? That may well depend on next week's data. Tuesday brings the monthly Chinese “data dump” of inflation, industrial production and retail sales numbers while it's a busy week data-wise in the US, with inflation, retail sales, industrial production and the leading economic index due along with the Empire State and Philadelphia manufacturing indices, the housing sentiment index, housing starts, and the fortnightly consumer sentiment gauge.
Plenty of grist for the mill there.
In Australia the aforementioned NAB survey and Westpac reports will hopefully be released along with March quarter dwelling starts. RBA governor Glenn Stevens is due to make a speech on Wednesday in which he will no doubt explain why he has backed right away from his earlier hawkish stance on monetary policy.
Have a good weekend.
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.
