Weekly Reports | Sep 23 2016
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 central bank circus has left town for now. Next week the focus will be on the OPEC circus.
On Monday through Wednesday next week an oil conference will be held in Algiers. Following the conference on the Wednesday, OPEC will hold what is now a formal meeting. On several occasions to date Saudi Arabia has talked the talk on a production freeze but each time this has come to nought. The main stumbling block has been Iran.
Having only just been allowed to export oil again, there was no way Iran was going to re-enter the market only to be hit by a production freeze. But now, supposedly, Iran is prepared to talk.
Supposedly. With grains of salt at the ready, we await Wednesday night.
US data releases next week include new and pending home sales and house prices, consumer confidence, durable goods, trade, personal income & spending, the Richmond Fed index and the Chicago PMI. The final revision of June quarter GDP will also be released. “Final” unless it is revised again on the release of the first estimate of September quarter GDP.
But it’s old news.
There’s a dearth of economic releases in Australia until we get to Friday, when private sector credit is due.
On the local stock from there are still some ex-divs to work through but the fact we are now seeing the odd company AGM reminds us that October is when the AGM season really ramps up.
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