THE WEEK AHEAD

Wages, house prices and car sales data will help paint a picture of the economy, while Orica, Incitec Pivot and Dulux release full year earnings.

Week Ahead Nov 12-16

The week ahead brings a glut of key economic indicators, with investors to be presented with key data from both Australia and overseas.


Locally, the September quarter wage price index will attract the most attention, while figures on house prices and new car sales are also due.


Overseas, the latest gauge on inflation is due in the United States, along with the minutes of the Federal Reserve’s last policy meeting.


Elsewhere, European Union inflation and gross domestic product data for the latest quarter are due.


In company news, Fortescue Metals Group and Wesfamers will hold annual general meetings, while GrainCorp release full year results.


RBA


Another busy week for the Reserve Bank of Australia brings a couple of important events.


On Tuesday, the head of the central bank’s economic analysis department, Jonathan Kearns, will speak at an Australian Business Economists luncheon in Sydney.


Investors will watch carefully, after the RBA surprised analysts last week by leaving the official cash rate on hold at 3.25 per cent. The bulk of expectation had the RBA moving to cut.


The bank has since cut its local gross domestic product forecast for 2013, and stood by its decision to leave rates unchanged.

On Friday, the RBA will hold its payments system board meeting.

Local news


In local news, a mixture of private and public data is set for release, with the Australian Bureau of Statistics again in the spotlight.


On Monday, housing finance data for September will be released by the ABS. Economists are expecting the number of loans given out in the month to have risen by 0.9 per cent.


Elsewhere, National Australia Bank will release both its business confidence and business conditions indexes for October.


Tuesday sees September lending finance figures made available by the ABS.


Wednesday brings the ABS’ September quarter wage price index, along with the Melbourne Institute and Westpac Banking Corporation consumer sentiment index for November. Analysts are tipping the figures to show wages rose 0.9 per cent in the most recent quarter, taking total annual wages growth to 3.9 per cent.


On Thursday, October new car sales data is due from the ABS, while the Melbourne Institute will release its consumer inflation expectation index for the month of November.


Car sales are expected to have fallen between one and two per cent during October.


Corporate


The week in company news brings an oddly large amount of earnings results for this time of the year, while the season of annual general meetings shows no signs of slowing.


On Monday, Orica Ltd is due to report full year results, while Origin Energy will hold its annual general meeting.


Tuesday sees Incitec Pivot unveil earnings figures for the full year.


On the AGM front, Biota Holdings, UGL, Watpac and Seven West Media will all meet shareholders.


Wednesday brings annual financial results from Dulux Group, and interim figures from CSR.


Elsewhere, Fortescue Metals Group, Mt Gibson Iron, Webjet and Wesfamers will hold annual general meetings.


Breville Group and Computershare will also meet shareholders.


Paladin Energy and Aurora Oil & Gas are due to release quarterly financial data.


On Thursday, takeover target Graincorp is expected to release full year earnings results.


Interim figures from James Hardie are also awaited.


AGM are due to be held by Asciano, BlueScope Steel, Lend Lease Corporation, Mirvac Group, Navitas, Ramsay Health Care and Seven Group Holdings.


Bank of Queensland will trade ex-dividend.


Friday brings AGMs from Cash Converters, Gindalbie Metals, Goodman Group,


Offshore


In international news, United States banks will be closed on Monday for the Veterans Day holidays, although markets in the country will remain open.


On Tuesday, US Treasury budget data for October will be released, while economic optimism indexes are due from both NFIB and IBD/TIPP.


Elsewhere, European Union economic sentiment data for November is due from ZEW.


In the United Kingdom, RICS housing price figures for October will be released, along with the consumer price Index for the month.


Wednesday brings October retail sales and September business inventories figures in the US. Economists are expecting the data to show retail sales have risen 0.2 per cent in the period.


The producer price index for October is also due, while the Federal Reserve will release the minutes of its last policy meeting. Core producer prices are expected to have risen by 0.2 per cent.


Weekly mortgage applications data from the Mortgage Bankers Association is also awaited.


In the UK, November average earnings data will be released, along with claimant count data for the month and quarterly unemployment figures.


September industrial production data is due in the EU.


Thursday sees US consumer price index data for October made available to the public, along with jobless claims figures and the New York Empire State manufacturing index for November.


The core consumer rate is tipped to have lifted at a rate of two per cent in October.


The Philadelphia Federal Reserve Survey for November is also on tap, along with the weekly petroleum status report from the Energy Information Administration.


In Europe, third quarter consumer price index figures are due for the European Union, while gross domestic product numbers for the same period is also on tap.


In the UK, October retail sales data is due.


On Friday, US industrial production numbers for October and Treasury international production data for September is due. Production is tipped to have grown 0.2 per cent in the month.


September current account balance data is due in the EU, alongside trade balance data for the same period.


Wrapping up


Rounding off the week, Sunday brings the Eurozone Economic and Financial Affairs council’s latest budget meeting.


Monday sees South Australian Premier Jay Weatherill speak at a Committee for the Economic Development of Australia (CEDA) event in Adelaide.


Elsewhere, the International Energy Agency will release its world energy outlook for 2012.


On Tuesday, Telstra Corporation chairwoman Catherine Livingstone will deliver a speech to an Australian Institute of Company Directors event in Adelaide.


Overseas, the European Union Economic and Financial Affairs Council will meet in Cyprus.


Wednesday brings a speech from billionaire mining magnate Clive Palmer at an AICD event in Coolum.


Separate Trans-Tasman business circle events see Bank of Queensland managing director and chief executive officer Stuart Grimshaw speak in Brisbane, while Australia Post managing director Ahmed Fahour speaks in Melbourne.


In Sydney, Oil Search managing director Peter Botten will be the guest speaker at an American Chamber of Commerce in Australia function.


Thursday sees Resources Minister Martin Ferguson address an AMCHAM event in Sydney.


US Federal Reserve chairman Ben Bernanke will talk before the HOPE global financial dignity summit.


Overseas, the European Central Bank will release its latest monthly report.


Back in the US, San Francisco Federal Reserve president John Williams is due to speak on the economy at the University of San Francisco.


Dallas Federal Reserve president Richard Fisher will address the State of West Symposium in the US.


Richmond Federal Reserve president Jeffery Lacker will speak at the West Virginia economic outlook conference.


Philadelphia Federal Reserve president Charles Plosser is due to speak before the CATO Institute in the US.


On Friday, Billabong International chief executive officer and managing director Laura Inman will speak at an AICD event in Brisbane.


Vodafone Hutchison Australia chief executive Bill Morrow will attend an AMCHAM business briefing in Sydney.


Arrow Energy chief executive Andrew Faulkner and Queensland Treasurer Tim Nicholls will address a separate AMCHAM event in Brisbane.


In the US, Atlanta Federal Reserve president Dennis Lockhart will address the fifth annual University of Virginia investment conference.