Next Week At A Glance

This story features COCHLEAR LIMITED, and other companies. For more info SHARE ANALYSIS: COH

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

Beijing will post China’s September quarter GDP on Monday. Given the recent run of data, one can assume the government’s targeted annual rate of 7.0% will be difficult to achieve. But if it is a number in the sixes no one should be surprised, and such a result would provide for further expectation of more monetary/fiscal stimulus.

That is if Beijing doesn’t announce any stimulus measures, such as an interest rate or RRR cut, this weekend. Anticipation is high following this week’s dour trade and inflation data.

There may be some disappointment if Beijing doesn’t announce new stimulus this weekend, but as to whether there is much downside left in the China story is another matter. Meanwhile, last night’s trade on Wall Street indicated US investors may now be back in bullish mode given waning expectation of a 2015 rate hike. Recent data certainly do not support such a move.

Tonight sees industrial production and consumer sentiment numbers in the US, while next week brings housing sentiment, starts and prices and existing home sales, The Chicago Fed national activity index and Conference Board leading indicators.

On Friday the US will see a flash estimate of the October manufacturing PMI, as will the eurozone, Japan and, importantly, China, courtesy of Caixin. But Monday sees not only China’s GDP but also monthly retail sales, industrial production and fixed asset investment numbers, so the China factor will be well in place by then.

The ECB will hold a policy meeting on Thursday. Extended QE has been much hinted at.

In a quiet economic week for Australia, Tuesday’s release of the latest RBA minutes is the highlight.

The local stock market will be a lot busier, nonetheless. The AGM season is ramping up in earnest, coinciding with resource sector quarterly reports. AGM highlights include Cochlear ((COH)), Amcor ((AMC)) and Qantas ((QAN)), while production reports from Newcrest Mining ((NCM)), Oil Search ((OSH)), BHP Billiton ((BHP)) and Santos ((STO)) will provide some excitement.

Wesfarmers ((WES)) will also report quarterly sales.
 

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