The Week Ahead

Capex and private sector credit figures are out during a week filled with AGMs, while offshore US property and consumer confidence data come ahead of Thanksgiving Day.

As annual general meeting season rolls on, Bank of Queensland and Harvey Norman will be the ones to watch this week.

In local data, capex and private sector credit figures will be of interest, while the Reserve Bank releases financial aggregates figures.

Offshore, several property data releases from the United States are expected, along with consumer confidence figures.

RBA

The Reserve Bank of Australia takes a slight breather this week, although investors will be interested in the release of its financial aggregates data.

On Tuesday, RBA Deputy Governor Philip Lowe will speak at an International Association for Research on Income and Wealth and University of New South Wales conference in Sydney. The topic of the conference is productivity measurement, drivers and trends.

Friday sees the central bank release monthly financial aggregates data and monthly international reserves and foreign currency liquidity data.

New weights for the trade-weighted index of the Australian dollar, a yearly release, will also be unveiled.

Local news

It’s a relatively quiet week in local data, with the Australian Bureau of Statistics set to release figures for private new capital expenditure and private sector credit.

On Wednesday, the ABS will deliver September construction work figures, with Bloomberg tipping a 0.3 per cent fall.

The Commonwealth Bank of Australia/Housing Industry Association’s Housing Affordability Index is also expected.

On Thursday, the ABS will unveil September private new capital expenditure data, with Bloomberg expecting a 4 per cent lift.

On Friday, October private sector credit figures are due, with Bloomberg expecting a 0.3 per cent increase.

Corporate

AGM season continues this week, with meetings from Harvey Normal Holdings and Bank of Queensland the standouts.

On Monday, Oakajee Corporation and Yellow Brick Road Holdings will hold their AGMs, while it’s the date of record for Orica.

On Tuesday, Challenger Financial Services Group, IOOF Holdings, St Barbara and Harvey Norman hold their AGMs.

Wednesday brings AGMs from Pharmaxis, Bank of Queensland, APN Property Group, Nucoal Resources and Chinalco Yunnan Copper resources.

On Thursday, Jindalee Resources, Poseidon Nickel and Linc Energy have AGMs scheduled.

Beach Energy’s AGM comes on Friday.

Overseas

Offshore, investors will be watching United States property data and consumer confidence figures.

On Tuesday, US pending home sales for October are released, with Bloomberg tipping a 2 per cent lift.

Wednesday sees US housing starts and building permits released, also for October, with Bloomberg forecasting lifts of 3.8 per cent and 1 per cent respectively.

The November consumer confidence index is also expected, along with the September house price index, where Bloomberg forecasts a 0.3 per cent lift.

In the United Kingdom, third-quarter GDP figures are due.

On Thursday, Chinese industrial profits for the year to October are scheduled for release, with Bloomberg tipping a 13.5 per cent lift year-on-year.

Bloomberg’s November China economic survey is also expected.

In the US, durable goods orders for October are out, with Bloomberg tipping a 1.7 per cent fall.

Bloomberg’s consumer comfort survey is also due, along with the October leading index, where Bloomberg expects a 0.1 per cent lift.

On Friday, Japan’s October inflation data will be released, while in Europe, November inflation data is out.

Wrapping up

No major US speeches are scheduled this week, and markets are closed on Thursday for the Thanksgiving Day holiday.

On Monday, Foxtel chief executive officer Richard Freudenstein will speak at an American Chamber of Commerce lunch in Sydney.

Tuesday will see former leader of the Australian Democrats Natasha Stott Despoja address the National Press Club in Canberra in her role as chair of the Foundation to Prevent Violence Against Women and their Children.

On Thursday, the Department of Defence’s Warren King will speak at a Trans-Tasman Business Circle lunch in Canberra.

In Melbourne, the Department of Human Services’ Gill Callister will address a Trans-Tasman Business Circle lunch.

Friday sees Monash University professor Graeme Samuel speaking at a Committee for the Economic Development of Australia lunch in Adelaide.

In Bendigo, Australian Agricultural Company chairman Donald McGauchie will speak at an Australian Institute of Company Directors lunch.

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