Weekly Reports | Oct 03 2014
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
The ASX200 is struggling to hold its ground as trading unfolds this morning and what happens tonight will be vital to whether the 5300 level can prove to be support or a further break-down trigger. The round of September service sector PMIs is due across the globe today and tonight but the biggie tonight will be the September US jobs numbers.
And just as big will be the potential of revision to the surprisingly weak August number. But just as difficult as forecasting US jobs data is figuring out just how Wall Street will respond to either a good or bad result.
It’s a quieter week for US data releases next week although the minutes of the last Fed meeting are due and will be closely scrutinised. Consumer credit, chain stores sales and wholesale trade are otherwise the highlights.
The Bank of Japan will hold a policy meeting next week. Markets were surprised at last month’s meeting when the central bank brushed off weak data concerns and insisted all was going to plan, hence more weak data since, including a particularly weak industrial production result, may encourage some policy tweaking this month.
The RBA meets on Tuesday and while there’s no expectation of a rate change, economists will be interested to hear what Glenn Stevens has to say about the Aussie, which is a lot lower than it was at the previous meeting, and will look for any further hints on touted investment mortgage lending restrictions.
The ANZ job ads series is out on Monday ahead of the Australian jobs numbers on Thursday. Housing finance and investment lending data, coincidently, round out the week.
The clocks go forward in relevant states this weekend and Monday is a public holiday in NSW, Qld and SA. The ASX is open for business but the tumbleweeds will be rolling through and there’ll be no broker research published. FNArena’s service on the day will thus be abbreviated.
Note that come Tuesday morning, the NYSE will close at 7am Sydney time instead of 6am and will do so for the next month.
Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" – Warning this story contains unashamedly positive feedback on the service provided.
