Weekly Reports | Jul 01 2011
By Greg Peel
Today sees the release of the June manufacturing PMIs for Australia and China, before tonight brings the same for the eurozone, UK and US. The US also sees construction spending, vehicle sales and the fortnightly consumer sentiment survey tonight before most of Wall Street heads off for an early long weekend. Monday is the Fourth of July holiday, and one presumes there are some weary souls around after the shenanigans of the last couple of weeks.
So it will be back to business for the September quarter on Tuesday, with unemployment back on the radar. The official non-farms payroll number comes out on the Friday after we see the ADP private sector report on the Wednesday. The week also brings factory orders, the services PMI and chain store sales.
After the manufacturing PMI in Australia today we see the services PMI next Wednesday, in a week which also brings the ANZ job ad series, the May trade balance and June unemployment. These are all important considerations for the RBA which will meet on Tuesday but leave its rate on hold. Look out August.
The Bank of England will also make a rate decision on Thursday and stay at 0.5%, while the ECB will do likewise but is expected to raise 25bps to 1.5%. Greece? It's all just a storm in an urn.
New Zealand will release its March quarter GDP on Thursday – yes I know we're already in the September quarter but you try getting sheep to stand still long enough to be counted – which will clearly be significant now that post-quake fiscal and monetary stimulus is underway.
Here's a thought: a Reds vs Crusaders Super Rugby final? The Floods vs the Quakes? There wouldn't be a dry eye in the house. Good luck to both teams (but go the Reds).
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.
