Next Week At A Glance

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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

Next week Wayne Swan will bring down the annual Federal Budget. Barring any fiscal bombshells, which are rare these days given strategic leaking, the stock market will pay little attention. It’s a lame duck budget anyway and Abbott has opened the door to do a Fraser a la ’75, if he can get the support. There may be some minor impact on specific sectors from whatever a government in desperation can cook up.

The Budget will be brought down on Tuesday night. Monday’s economic releases include housing finance and investment lending, while March quarter wholesale prices round out the week.

There’s more action on the corporate front, beginning with another host of AGMs. The week will also feature full-year results from CSR ((CSR)), SingTel ((SGT)) and SP Ausnet ((SPN)), interim results from Incitec Pivot ((IPL)), DuluxGroup ((DLX)) and Graincorp ((GNC)), and quarterly updates from Commonwealth Bank ((CBA)) and Paladin Energy ((PDN)).

On Monday, China will release April retail sales, industrial production and fixed asset investment numbers.

The US picks up the pace economically as the March quarter result season tails off. Next week sees business inventories, retail sales, industrial production, housing sentiment, housing starts, the CPI and PPI, and the Empire State and Philly Fed manufacturing indices.

Eurozone industrial production and trade data are due, along with the ZEW investor sentiment index and a revision of the March quarter GDP result. Japan will also revise its GDP.

The G7 finance ministers and central bankers have gathered in London in order to prepare a joint announcement by tomorrow night denying the Currency War exists.

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