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Next Week At A Glance

Weekly Reports | Nov 18 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

Next week will be a short week in the US, realistically three days. All markets are closed on Thursday for Thanksgiving and although the NYSE does open for a half-day session on the Friday, only a handful of skeletons ever turn up.

Suffice to say there are no US data releases on those days, rather they are all crammed in earlier in the week. They include the Chicago Fed national and Richmond Fed indices, new and existing home sales, house prices, durable goods, consumer sentiment and the minutes of the November (pre-Trump) Fed meeting.

Friday next week is known as Black Friday in the US. It is when Christmas-reliant retailers offer a day of discounting to lure in customers, and for the first time in the year, so the story goes, their P&Ls go “into the black”. More recently, online retailers follow up with the same deal on the Monday, dubbed Cyber Monday. How goes these two days determines whether or not retailers have a good Christmas.

Except that the whole thing has rather gone out the window these days. Retailers start discounting this week or earlier, such that the actual Friday and Monday no longer have the same impact.

In Australia we can look forward to September quarter numbers for construction work done and private sector capex – two of the more important releases in the lead-up to the following week’s GDP result.

And we can also look forward to another relatively busy week on the AGM front.

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