Weekly Reports | Jun 07 2013
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
Today in Australia sees the May construction PMI and S&P/ASX will announce a reasonably substantial rebalance of the ASX indices, which may cause some individual stock volatility. Tonight in the US the jobs numbers are due, and it really is anyone’s guess as to how Wall Street might react given the endless will they-won’t they QE tapering debate.
Tomorrow Beijing will release China’s May trade balance, and on Sunday May inflation, retail sales, industrial production and fixed asset investment numbers.
On Monday the ASX will be closed for the Queen’s birthday long weekend. Chinese markets will also close from Monday through Wednesday.
After tonight’s jobs number, US data goes quiet next week until the Friday when industrial production and the PPI are released.
It will be busier in Australia, where housing finance and investment lending numbers are due along with the NAB business and Westpac consumer confidence surveys and on Thursday, the unemployment data. The jobs numbers have surprised to the upside recently but volatility has been introduced through a new measurement model, so with markets now speculating on a July rate cut the possibility of a weak number for May is tantalising given the April numbers confounded.
Japan will release its trade balance on Monday and revise its first quarter GDP, and the Bank of Japan will hold a policy meeting on Tuesday. With the yen and Nikkei both now jumping at shadows, the fallout could be influential.
The RBNZ will make a rate decision on Thursday.
US jobs, Chinese data dump, Japanese policy meeting. Enjoy the long weekend because with the mood this market’s in, anything could happen next week.
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