Weekly Reports | Feb 09 2018
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
Tonight’s open on Wall Street will be critical. A gap down suggests a greater fall towards the 200-day moving average on the S&P500, or a further -2.7%. If buyers emerge early the previous low will hold, for now, but may yet need to be retested in the short term.
Next Thursday sees the beginning of the week-long Chinese New Year break, for which the whole country shuts down. Given Chinese economic data releases are not seasonally adjusted, we will once again see a period of volatility in upcoming data reflecting the before, during and after periods of Chinese New Year.
Japan is closed on Monday, ahead of its December quarter GDP release on Wednesday.
US data releases will get lost in the wash as current volatility plays out, although Wednesday’s CPI number will not be ignored. Inflation fear set this correction in train last week.
Other US releases next week include retail sales, industrial production, housing sentiment, housing starts, consumer sentiment and the Empire State and Philly Fed indices.
Australian releases include the monthly NAB business and Westpac consumer confidence surveys and January jobs numbers.
The local results season steps up a gear next week. With reporting companies now becoming too numerous to highlight, please refer to the FNArena calendar (link above).
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