Next Week At A Glance

This story features CHALLENGER LIMITED. For more info SHARE ANALYSIS: CGF

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

It’s GDP week in Australia next week as the last of the March quarter data are rolled out ahead of Wednesday’s final result. We’ll see quarterly data for corporate profits and inventories along with the current account, which includes the trade numbers, before the big day.

The RBA will meet on Tuesday and probably publish a statement that looks negligibly different from the May statement.

It’s a PMI week, which begins with the release of the official Chinese manufacturing number on Sunday while HSBC sensibly waits till next week, which is also when the Australian, eurozone, UK and US results are due. All parties will also release service sector PMIs.

It’s also jobs week in the US, providing fodder for the great debate over whether the US is recovering steadily or not. The private sector number is due on Wednesday and non-farm payrolls on Friday. Throughout the week there will be releases for construction spending, factory orders and chain store sales and the Fed will release its latest Beige Book on Wednesday.

Despite a lot of important data being due next week, it will all fade into the background as the world awaits the outcome of the ECB policy meeting on Thursday night. Rate cut? QE? It is unclear what Mario Draghi has planned, but the world is assuming that next week he’ll finally stop talking the talk and start walking the walk.

Outside of March quarter numbers, Australia will next week also see monthly data for building approvals, retail sales and the trade balance.

Local corporate activity slows to a grinding halt next week, at least in official terms. Aside from an investor update from Challenger Group ((CGF)) we will now enter the effective blackout period ahead of end of financial year, notwithstanding any further “confession session” profit warnings that may emerge.

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