InvestSMART

THE WEEK AHEAD

The week ahead sees the RBA release its quarterly bulletin, Myer and BC Iron to report on earnings, a key Fed meeting and China to update on inflation.
By · 7 Sep 2012
By ·
7 Sep 2012
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The week ahead brings a solid mix of key economic indicators from both home and overseas.

In local news, lending finance data, housing starts and the Reserve Bank of Australia's quarterly bulletin are on tap.

Offshore, consumer inflation figures dominate the week in the United States, while the producer price index is also due.

Elsewhere, the Federal Reserve will hold its September policy meeting and China will release a suite of key data.

In company news, Sigma Pharmaceuticals and Myer Holdings will release earnings results, while a number of companies will go ex-dividend.

Finally, the Queensland government will release its budget for the 2013 financial year.

RBA

On Wednesday, the Reserve Bank of Australia will make its September quarter bulletin available to the public.

The release will be picked apart by investors for any insight into what the central bank's next move may be on rates, after it left the official cash rate on hold this month for the third consecutive time.

Weaker than expected gross domestic product data this week led to heightened speculation that a cut may be close, but others expect surprisingly strong unemployment data will convince the RBA to hold their course.

Local news

The week in local news brings a number of private and public releases.

On Monday, housing finance data for July is due from the ABS. Analysts are expecting the data to provide a flat result.

Tuesday sees the ABS release lending finance data for July.

National Australia Bank will release its business confidence and business conditions indexes for August.

Elsewhere, the quarterly crop report from the Australian Bureau of Agricultural and Resource Economics and Forestry is due.

Wednesday brings June housing starts data from the ABS.

The Melbourne Institute and Westpac Banking Corporation's consumer sentiment index for September will also be released.

Thursday sees the Melbourne Institute release its consumer inflation expectation and unemployment expectation indexes for September.

Corporate

The week in company news brings a couple of earnings reports, late for the August reporting period.

Monday sees Arrium trade ex-dividend.

On Thursday, Sigma Pharmaceuticals will release interim earnings results. Goldman Sachs analysts are expecting the group to post an operating profit of $26.8 million, a 4.7 per cent rise on the previous corresponding period.

Myer Holdings will report full year figures. The group is tipped to post an operating profit of $137.7 million, a 15.3 per cent fall on last year.

Friday brings full-year figures from BC Iron.

Elsewhere, Orpheus Energy will hold its annual general meeting.

Overseas

Offshore, a suite of data from China is due on Sunday.

Official August inflation data will highlight a group of figures that also includes producer price numbers, industrial production and retail sales.

Monday brings Chinese data on import and export prices for August, as well as trade balance figures.

European Union inflation data for August will be released, along with industrial production figures for July.

In the United Kingdom, RICS house price data for August is on tap.

Tuesday sees international trade data released in the US, along with National Federation of Independent Business corporate optimism data for August.

The trade data is expected to show the US deficit rose to $US45.1 billion in the month.

July trade balance data is due in the UK.

In the US, McDonald's Corporation will release August sales data.

Wednesday sees the US Federal Reserve kick off its two-day September policy meeting.

Import and export price data will also be released, along with wholesale inventory figures for July.

Elsewhere, the Energy Information Association will release its weekly petroleum status report, while the Mortgage Bank's Association's latest mortgage applications report is on tap.

In the UK, average earnings data for the September quarter is awaited, along with August claimant count figures.

ILO unemployment rate data for the three months to September is also expected.

On Thursday, the US Federal Reserve will make its interest rate decision for the month.

Jobless claims data and the producer price index are also awaited, along with US Treasury budget data.

Experts are tipping producer prices to have jumped 0.2 per cent in August.

Second quarter unemployment data is due in the US. Elsewhere, the Bank of England will release its bulletin for the third quarter.

On Friday, the US consumer price index for August is set for release, while retail sales data for the months also due.

Analysts are expecting retail sales to have risen by 0.5 per cent in August.

August industrial production figures are also on tap, alongside consumer sentiment data and business inventories figures.

Economists are tipping production expanded by 0.3 per cent in the month.

Wrapping up

Rounding off the week, Sunday sees representatives from the European Union, European Central Bank and International Monetary Fund meet Greek finance minster Yannis Stournaras.

Elsewhere, Bank of England governor Mervyn King will meet with his fellow central bankers to discuss the ongoing Libor scandal.

Monday sees IBM Australian and New Zealand managing director Andrew Stevens and NBN Co chairman Harrison Young speak at a Committee for the Economic Development of Australia (CEDA) function in Sydney.

Elsewhere in Sydney, BUPA Health Australia managing director Richard Bowden will speak at an American Chamber of Commerce in Australia (AMCHAM) business briefing.

On Tuesday, the Queensland government will release its budget for the 2013 financial year.

Commonwealth Scientific and Industrial Research Organisation chief executive Dr Megan Clark will address a CEDA event in Queensland.

Elsewhere, the 2012 Denver Gold forum kicks off in the United States, while the European Union will set out it latest plans for a banking union.

The Organisation of Petroleum Exporting Countries will release its monthly oil market report.

The World Economic Forum will hold its annual meeting of News Champions for 2012.

Wednesday sees European Commission President Jose-Manuel Barroso deliver his state of union address to European Parliament.

The International Energy Association will release its September oil market report.

The Organisation for Security and Co-operation in Europe will hold its 20th economic and environmental forum.

Thursday brings a Group of 20 meeting of global finance ministers and central bankers in Mexico.

In the US, Federal Reserve chairman Ben Bernanke will speak at a press conference following the Fed's latest interest rate announcement.

Elsewhere, Bank of America Merrill Lynch will hold its global real estate conference in New York.

Friday sees GVK Hancock Coal Group managing director of coal and infrastructure Paul Mulder serve as the guest speaker at an AMCHAM event in Brisbane.

IMF first deputy managing director David Lipton will give the opening remarks at a conference on the financial crisis.

And finally, the European Council will hold an official meeting.
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Shane White
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