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THE WEEK AHEAD

It will be a quiet week for local data, but a slew of international figures are due for release in the coming week, including a forecast bounce-back in existing and new home sales in the US.
By · 22 Feb 2013
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22 Feb 2013
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The week ahead brings a batch of economic indicators, headlined by the release of the Reserve Bank of Australia's minutes from their September meeting. Local data due for the week includes the Westpac-Melbourne Institute Leading Index and Australian national account figures.

In the US, the Federal Reserve is set to make its interest rate decision, while the housing market index, housing stars and building permits are among a raft of data due. A relaxed week ahead on the corporate scene sees a handful of annual general meetings and a few firms going ex-dividend, while RBA Governor Glenn Stevens will speak in Shepparton.

RBA

On Monday , RBA Governor Glenn Stevens speaks at the Foodbowl Unlimited Forum Luncheon in Shepparton. Tuesday will see the release of the highly anticipated RBA Board minutes from its September meeting, at which the central bank decided to leave interest rates on hold for the fourth consecutive time.

Local data

A quiet week ahead in local data begins on Tuesday with the release of the Australian Bureau of Agricultural and Resource Economics' (ABARE) commodity forecasts.

Wednesday will see the Westpac–Melbourne Institute Leading Index released.

RBA foreign exchange transaction data for August is set for release on Thursday.

Friday will see the release of Australian national accounts data for June from the Australian Bureau of Statistics.

Corporate

A slow week on the corporate front kicks off on Monday with Macarthur Coal and Webjet going ex-dividend.

Jupiter Energy holds its annual general meeting (AGM) on Tuesday, while Wednesday sees Alesco Corporation also hold its AGM.

On Thursday, Astra Capital holds its AGM while Saint Istvan Gold holds an extraordinary general meeting.

Argent Mineral holds its AGM on Friday.

International

A raft of data is set for release outside Australia in the week ahead.

In the US on Monday, the housing market index for September is set for release.

United Kingdom money supply data is also due on Monday.

Tuesday will see the release of US housing starts data, as well as building permits figures.

Economists expect housing starts to have lifted 1.5 per cent in August.

The US Federal Reserve interest rate decision is also due on Tuesday, with analysts expecting rates to remain on hold.

Wednesday will bring the US EIS weekly petroleum status report.

European Union industrial orders data for July will be released on Wednesday, as well as minutes from the Bank of England's last meeting.

On Thursday, the US will see data on leading indicators for August, home sales and jobless data.

Existing home sales are expected to have risen by over 7 per cent in the month, bouncing back from a 27 per cent fall in July. New homes sales are tipped by economists to have lifted 7.5 per cent.

The weekly EIA natural gas report is also due on Thursday.

US durable goods data for August is due on Friday, along with new home sales data for August.

Rounding off

Tuesday will see a number of executives including Gage Roads Brewing chairman Ian Olson, Longmont Consolidated group managing director Terry Mulligan and 360 Environmental director Tamara Smith address an Australian Institute of Company Directors (AICD) function in Perth.

Clough Limited chief executive officer John Smith will speak at an American Chamber of Commerce in Australia (AMCHAM) function, also in Perth.

On Wednesday, AICD chief executive and managing director John H C Colvin and ASX Market Supervision chairman Alan Cameron speak at an AICD function in Brisbane.

Also on Wednesday, Telstra Corporation chief financial officer and group managing director John Stanhope will speak at an AMCHAM event in Sydney

Thursday will see Chicago Federal Reserve Bank president Charles Evans open a two-day International Banking Conference in Chicago in the US.

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Shane White
Shane White
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