InvestSMART

THE WEEK AHEAD

Results from David Jones and Katmandu will headline the week ahead, along with minutes from the Reserve Bank's latest policy meeting.
By · 14 Sep 2012
By ·
14 Sep 2012
comments Comments
Upsell Banner
A host of important economic indicators are set for release in the week ahead, headlined by the minutes of the Reserve Bank of Australia's latest policy meeting.

A quiet week in local news sees car sales data released to the public, while overseas, current account balance figures and a suite of housing data is due in the United States.

In company news, a small number of groups will release earnings results, including retailers David Jones and Katmandu Holdings. A host of companies will go ex-dividend.

RBA assistant governors Guy Debelle and Christopher Kent will speak at corporate functions in the week ahead, while the RBA will hold a joint conference with the Treasury and International Monetary Fund.

RBA

A massive week for the Reserve Bank of Australia sees one of its most popular releases made available to the public, as well as speeches from two of its key board members.

On Tuesday, the central bank will release the minutes of its September monetary policy, where it left the official cash rate on hold for the third consecutive time.

Investors will look carefully for any indication on the future direction of interest rates, as some analysts still expect at least one more cut before the end of the year.

Later that day, assistant governor Guy Debelle will speak at a Financial Services Institute of Australasia, Committee for the Economic Development of Australia and Institute of Chartered Accountants in Australia joint luncheon in Adelaide. He is sure to field questions relating to the minutes, which will take the attention of the market.

Wednesday sees the RBA, Treasury and the International Monetary Fund co-host a conference on structural change and the rise of Asia in Canberra.

Central bank assistant governor Christopher Kent will speak at the event.

Local news

The week in local news is a quiet one, with little from the Australian Bureau of Statistics and barely a private indicator to be seen.

On Monday, the ABS will release new car sales data for August. Analysts are expecting the figures to show over a 3 per cent rise in sales for the month.

Wednesday sees Westpac Banking Corporation and the Melbourne Institute release their latest leading index of economic activity.

Corporate

The week in corporate news brings a couple of earnings results and host of ex-dividend dates.

On Monday, Brambles, CSL, Flight Centre Australia, Mineral Resources Australia and Primary Health Care will all trade ex-dividend.

Telecom Corp of New Zealand, Webjet and Western Areas will also get involved.

Tuesday sees Toll Holdings go ex-dividend, while Alesco will hold its annual general meeting.

Overseas, FedEx will release first quarter earnings data in the Unites States.

Wednesday sees David Jones release full-year earnings results. Goldman Sachs analysts are expecting the group to post a 39.4 per cent fall in net profit to $101.9 million.

Telstra Corporation will hold a shareholder meeting in Perth.

Offshore, third-quarter earnings figures are due from Adobe Systems Inc.

Thursday brings a similar release from Kathmandu Holdings. The company is expected to post a $NZ32 million profit, 18.1 per cent lower than the previous corresponding period.

Earnings are also due from Brickworks, Ortongroup and Gindalbie Metals.

Telstra will hold another shareholder meeting, this time in Adelaide.

Friday sees Telstra meet shareholders in Melbourne.

Offshore

Overseas, a number of important indicators from both sides of the Atlantic are due this week.

Monday brings the New York Empire State manufacturing index for September in the United States.

Elsewhere, European Union current account balance and trade balance data will be released.

On Tuesday, second-quarter current account balance data will be released in the US.

Treasury international capital data is also due, along with the National Association of Home Builders' September housing market index.

In the United Kingdom, August consumer price index figures are due.

Wednesday brings housing starts and existing home sales data for August.

Starts are forecast to have lifted 2 per cent in the month, while home sales are expected to have risen 2 per cent.

Building permits figures for the month and the latest Mortgage Bankers Association's mortgage application figures are due.

Elsewhere, the weekly Energy Information Association's petroleum status report is on tap.

On Thursday, US jobless claims and the Philadelphia Federal Reserve survey are awaited.

In the UK, retail sales data for August will be released.

Wrapping up

Rounding off the week, Monday sees Transpacific chief executive officer Kevin Campbell speak at an American Chamber of Commerce in Australia event in Sydney.

Tuesday brings an address from Australian Securities and Investment Commission commissioner Greg Tanzer to the Alternative Investment Management Association Hedge Fund forum in Sydney.

Overseas, Chicago Federal Reserve president Charles Evans will speak before a Bank of Ann Arbor meeting.

Richmond Federal Reserve president Jeffery Lacker will give a speech to the Money Marketeers of New York University.

On Wednesday, Australia and New Zealand Banking Group chief executive officer Mike Smith will address a Trans-Tasman Business Circle function in Auckland.

Australian Prudential Regulation Authority general manager Neil Grummitt will speak at the RBA, CEDA and ICAA event in Adelaide.

Elders chief executive Malcolm Jackman will address an AMCHAM business briefing in Melbourne.

ANZ chief information officer Anne Weatherson will speak at a separate TTBC event in Melbourne.

Overseas, Kansas City Federal Reserve president Esther George will speak at an employment conference.

The World Trade Organisation's trade policy review body will kick of a three-day meeting in Korea.

The European Central Bank governing council will hold a two-day non-rate setting meeting.

On Thursday Queensland Premier Campbell Newman will deliver a State of the State address at a CEDA event in Brisbane.

MLC chief executive officer Steve Tucker will be the guest speaker at an AMCHAM business briefing in Sydney.

Overseas, the Bank of Japan will publish its monthly report.

In Europe, European Council president Herman van Rompuy, European Commission president Jos Manuel Barroso and Chinese President Jiabao Wen will meet at an EU-China summit.

Elsewhere, the Federal Reserve will release the quarterly flow of funds accounts of the US.

Boston Federal Reserve president Eric Rosengren will speak in Massachusetts.

Atlanta Federal Reserve President Dennis Lockhart will address an employment conference in the US.

Minneapolis Federal Reserve president Narayana Kocherlakota will speak to business leaders in Michigan.

Cleveland Federal Reserve president Sandra Pianalto will address the Miami University Farmer School of Business.

St Louis Federal Reserve president James Bullard will deliver the economic lecture at the University of Notre Dame.

Dallas Federal Reserve President Richard Fisher will speak on the economy and policy in New York.

On Friday, Western Australian treasurer Troy Buswell will speak at a CEDA function in Perth.

And finally, Lockhart will speak on the US economic outlook and monetary policy in Atlanta.
Share this article and show your support
Free Membership
Free Membership
Shane White
Shane White
Keep on reading more articles from Shane White. See more articles
Join the conversation
Join the conversation...
There are comments posted so far. Join the conversation, please login or Sign up.