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

The actual deal to provide Greece with a bailout still has to be nutted out in Brussels and all the eurozone parliaments have to approve the deal on the weekend but further impediments are not anticipated from here. The ECB has now increased its emergency funds to allow Greek banks to reopen next week.

The Chinese stock market appears to have settled down for now.

On Wall Street, expectations of a September rate rise are becoming more and more baked in and no doubt it has reached the point where most market participants would just like to get it done and move on. The focus can then be on the US earnings season, and at the end of the day, earnings are really all that matter.

So far so good on that front, but its early days. Next week’s US economic data releases include new and existing home sales, house prices, the Chicago Fed national activity index and the Conference Board’s leading economic indicators.

On Friday the flashers will be out and about, and just as well for them they’re all in the northern hemisphere. Mighty cold in the south. China (HSBC), Japan, the eurozone and US will all provide estimates of July manufacturing PMIs.

Japanese markets will be closed on Monday.

The minutes of the July RBA meeting will be released on Tuesday but nothing much new is expected, particularly given Wednesday sees the June quarter CPI numbers. These will help inform the RBA’s decision for the August meeting.

The countdown is now on locally to the August result season, but before that we still have a load of resource sector quarterly production reports to get through. The biggie next week will be from BHP Billiton ((BHP)). Macquarie Group ((MQG)) will also be in focus when it updates guidance at its AGM.
 

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