Next Week At A Glance

This story features WOOLWORTHS GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: WOW

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

We will enter next week safe in the knowledge Fed QE will shortly be dead and buried, at least until such time as QE4 might be needed. We recall that QEs 1, 2 and 2.5 (Operation Twist) also came to an end before the Fed decided yet more stimulus was required. This time, nonetheless, we’re expecting the first Fed rate rise by June next year, most likely. It will all come down to the data however, particularly with regard to jobs.

The Bank of Japan is holding a policy meeting today but given a solid uptick in Japanese September data, is unlikely to change anything. Tonight sees the all-important flash estimate of eurozone CPI, while in the US, personal spending and income data will provide a different angle on inflation.

Tomorrow is the first of the month, which means Beijing will publish the official Chinese manufacturing PMI for October.

The rest of the world will, sensibly, wait for Monday. Australia, the eurozone, UK and US will all report PMIs and HSBC will provide its spin on Chinese manufacturing while Beijing delivers the official services PMI. The balance of services PMIs is due on Wednesday.

The first week of the month is also jobs week in the US, hence we’ll see the ADP private sector report on Wednesday and non-farm payrolls on Friday. Construction spending, vehicle sales, chain store sales and factory orders numbers will be delivered over the course of the week along with the trade balance and September quarter productivity.

The US earnings season will roll on.

All eyes will be on the ECB as it holds a policy meeting on Thursday against a backdrop of declining eurozone data. The Bank of England will also meet.

Japan will be closed on Monday.

It’s a busy week in Australia. Building approvals, ANZ job ads, the TD Securities inflation gauge, retail sales, the trade balance and jobs numbers (here we go again) are all due. Tuesday brings us that wonderful combination of an RBA policy meeting and Melbourne Cup Day. Victoria will be closed on the day, and everyone else will be at lunch. The RBA will not be looking to change anything.

On the local stock front, the AGM season finally begins to taper off next week. Woolworths ((WOW)) will publish its September quarter sales numbers (I hope) and Westpac ((WBC)) and CSR ((CSR)) will deliver FY14 earnings results.

On Sunday night US summer time ends, which means on Tuesday morning the NYSE will close at 8am Sydney time.
 

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