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

Once we get past the Chinese data today, global economic data releases are fairly thin on the ground until later next week. A potentially significant highlight on Thursday will be the scheduled ECB policy meeting.

Last night the Bank of England did not cut its cash rate as most expected, and as had been earlier hinted at, basically because markets have recovered since their Brexit fit and the pound has rebased to a more helpful level for the UK economy. As the world quickly recovered from the Brexit news, the ECB also suggested it may not need to do anything drastic beyond policies already in place. And the euro is also lower. So we shall see.

In the US, next week brings housing sentiment and starts ahead of Thursday, which sees existing home sales, house prices, the Chicago Fed national index, the Philadelphia Fed index and leading economic indicators. On Friday the US, eurozone and Japan will all flash July manufacturing PMI estimates.

Australia’s calendar is also virtually devoid of data releases next week, although the minutes of the July RBA meeting are due on Wednesday.

There will be more action in the stock market nevertheless.

Next week sees the resource sector quarterly reporting season shift up a gear, with reports due from the likes of BHP Billiton ((BHP)), Rio Tinto ((RIO)), Oil Search ((OSH)), Woodside Petroleum ((WPL)), Santos ((STO)), OZ Minerals ((OZL)), South32 ((S32)) and Western Areas ((WSA)), among others.

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