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THE WEEK AHEAD

Job vacancies and home sales data will take the spotlight, while Nufarm hands down full-year results.
By · 20 Sep 2012
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20 Sep 2012
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A suite of important economic indicators are set for release in the week ahead, with key data due both locally and overseas.

In Australia, job vacancies data and home sales figures are set for release, along with the Reserve Bank of Australia's financial stability review.

Offshore, June quarter gross domestic product data is due in the United States.

GDP and current account balance figures are also awaited in the United Kingdom.

The week in company news sees Nufarm release earnings results, while a number of companies go ex-dividend.

Finally, Reserve Bank board member Guy Debelle will speak publically in the week ahead, while Prime Minister Julia Gillard will speak at the Economic Club of New York.

RBA

On Tuesday, the Reserve Bank of Australia will release its latest financial stability review, the central bank's biannual assessment of the health of the local financial system.

Later that day, RBA assistant governor Debelle will deliver Deakin University's Richard Searby oration for 2012 in Melbourne.

Wednesday brings a speech from the head of the RBA payments policy department, Tony Richards, to the 2012 Mobile and Contactless Payments Australia conference in Sydney.

Investors will watch both speeches closely for any indication of the future of interest rates, after the minutes of the RBA's latest board meeting had analysts firming on the chance of further cash rate cuts this year.

Local news

Another quiet week from the Australian Bureau of Statistics keeps the week in local news relatively thin.

Monday sees the Housing Industry Association release new home sales data for August.

Wednesday brings the August skilled vacancies index from the Department of Education and Workplace Relations.

On Thursday, job vacancies data for the month of August will be released by the ABS.

Second quarter financial account figures are also set for release.

Friday sees the release of August private sector credit data. Analysts are excepting the data to show a 0.2 per cent to 0.3 per cent rise in credit during the month.

Corporate

In company news, a number of companies go ex-dividend early in the week, while Nufarm will release earnings results.

Monday sees a host of companies trade ex-dividend, including Cabcharge Australia, Crown Ltd, Fletcher Building Australia, Myer Holdings, Newcrest Mining Group, PanAust, Seven Group Holdings and The Reject Shop.

On Wednesday, Telstra Corporation will hold an investor meeting in Brisbane, while Ausdrill will go ex-dividend.

On Thursday, Nufarm will release full year results. Goldman Sachs is expecting the group to post an operating profit of $102.2 million, an 18.8 per cent rise on the previous corresponding period.

Elsewhere, Healthlinx will hold its annual general meeting.

Friday sees Sims Metal Management go ex-dividend.

Elsewhere, Telecom Corporation of New Zealand will hold its annual general meeting.

Offshore

Overseas, the Dallas Federal Reserve manufacturing index for September will be released in the United States on Monday.

The August Chicago federal reserve national activity index is also due.

In the United Kingdom, nationwide house price data for August is awaited.

Tuesday brings US consumer confidence data for September, as well as the July S&P Case-Shiller home price index.

Economists are expecting the index to show a 0.8 per cent lift in prices during July.

The Richmond Federal Reserve's manufacturing index for September is also on tap.

Wednesday sees US new home sales figures for August released, along with the Energy Information Association's weekly petroleum status update.

Sales of new homes are tipped to have grown by around 2 per cent.

Weekly Mortgage Bankers Association mortgage applications data is also on tap.

Thursday brings June quarter gross domestic product data in the US. Experts expect the figures to show the economy grew at an annual pace of 1.7 per cent during the year.

Jobless claims data and August durable goods orders are also awaited, along with pending home sales figures for August.

Analysts believe orders may have fallen 2.5 per cent in the month.

In the UK, second quarter gross domestic product data will be released. Current account balance figures for the same period are also awaited.

Elsewhere, Gfk Group consumer confidence data for September is on tap.

On Friday, personal income and outlays data for August will be made available in the US. Economists are expecting consumption to have grown 0.5 per cent in August, outshining a 0.2 per cent lift in income.

The Reuters/Michigan consumer sentiment index for September and the latest Chicago purchasing managers index are also awaited.

Wrapping up

Rounding off the week, Sunday sees European Central Bank board member Benoit Coeure speak on the eurozone crisis at the Public Finance Institute in Paris.

Elsewhere, Group of 20 finance ministers and central bank governors will kick off a two-day meeting, while the Bank of Japan will publish the minutes of its latest monetary policy meeting.

On Monday, Prime Minister Gillard will speak at the Economic Club of New York.

The European Parliament Committee will begin its hearing on the Libor scandal.

Elsewhere, International Monetary Fund managing director Christine Lagarde will speak at the Peterson Institute in Washington.

In the United States, San Francisco Federal Reserve Bank President John Williams will speak on the economic outlook.

Tuesday sees minister for finance and deregulation Penny Wong speak at an Australian Institute of Company Directors event in Canberra.

Queensland Premier Campbell Newman will address a separate AICD function in Brisbane.

Wednesday brings an address from ASX chief executive and managing director Elmer Funke Kupper at an AICD event in Perth.

National Australia Bank executive director for finance, Mark Joiner, will address a Committee for the Economic Development of Australia luncheon in Melbourne.

Delloite Australia chairman Wayne Goss will speak at an American Chamber of Commerce in Australia business briefing in Perth.

US Treasury Secretary Timothy Geithner will speak to the Clinton Global Initiative in the US.

Philadelphia Federal Reserve President Charles Plosser will speak on the US economic outlook in his home state.

On Thursday, Chicago Federal Reserve president Charles Evans will speak to the Lake Shore Chamber of Commerce in the US.

Friday sees the World Trade Organisation's dispute settlement body meet in Washington.
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