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

We await what the Bank of Japan has in store today and tonight we see first estimates of June quarter GDP for both the eurozone and the US. Next week, the local earnings result season begins in earnest.

Monday is a bank holiday in NSW. The ASX is open but things may be a little slow. It’s the first of the month nonetheless so we’ll see a round of manufacturing PMIs from across the globe, and both manufacturing and services for China. Services PMIs for the rest of the world are due on Wednesday.

The RBA will meet on Tuesday and at this stage the market sees a rate cut as a 50/50 bet. During the week we’ll see numbers for building approvals, trade and retails sales as well as the PMIs. The RBA will also issue a quarterly Statement on Monetary Policy.

The Bank of England will also meet next week but having not made any policy changes following the Brexit vote, and with the Brexit process yet to be triggered, it is likely the BoE will continue to wait and watch.

US data next week include construction spending, personal income & spending, vehicle sales, chain store sales and factory orders. Being the first week of the month it’s jobs week, thus we’ll private sector numbers on Wednesday and non-farm payrolls on Friday. The Fed does not meet again until September.

Several companies will post earnings next week, including Rio Tinto ((RIO)), Downer EDI ((DOW)), Tabcorp ((TAH)), Suncorp ((SUN)) and Virgin Australia ((VAH)).
 

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