What’s Happening Next Week?

This story features IDT AUSTRALIA LIMITED, and other companies. For more info SHARE ANALYSIS: IDT

By Chris Shaw

Next week is a shorter one for most markets given the Easter long weekend but there is still a stack of economic data releases to keep both economists and investors busy.

In Australia Monday will see performance of construction numbers, the TD Securities inflation gauge, December quarter engineering construction and ANZ job ads data for March released, all of which leads nicely into the Reserve Bank of Australia rate decision due on Tuesday. Current forecasts suggest a further reduction in the official interest rate of 0.25-0.5% with a growing minority anticipating the central bank may elect to keep its powder dry for more rainy days later in the year.

Following on Wednesday will be housing finance numbers for February and consumer sentiment readings for April, while Thursday sees the release of March employment data and consumer inflation expectations for April. In contrast to Australia there is little in the way of economic data due next week in New Zealand, with only the March quarter business opinion survey expected on Tuesday and March house prices out on Wednesday.

Turning to Asia, Japan will release February leading and coincident index data on Monday prior to the Bank of Japan rate decision on Tuesday, with February current account data due on the same day. Wednesday sees the release of the latest Bank of Japan monthly report along with February trade balance and March Eco Watchers survey results. Machine orders for February are out on Thursday and on Friday the most recent Bank of Japan meeting minutes will be released.

In Europe there will be April investor confidence and February industrial production and retail sales data for the European Union out on Monday before quarterly GDP data are released on Tuesday. Next Friday the European Central Bank will release its latest monthly report.

From the UK the market can expect industrial and manufacturing production numbers for February and consumer confidence data for March on Tuesday along with the latest GDP estimate, while March PPI and February trade numbers come out on Thursday, the same day the Bank of England announces its latest decision on interest rates.

US data include February consumer credit numbers on Tuesday, the latest on mortgage applications and wholesale inventories for February on Wednesday, February trade balance and March import/export price indices on Thursday, along with the usual initial jobless claim numbers update, while the monthly budget statement is expected to be released on Friday.

In terms of corporate items a few stocks go ex dividend next week including Institute of Drug Technology ((IDT)) and Noni B ((NBL)) on Monday, Oakton ((OKN)) and Premier Investments ((PMV)) on Tuesday and Harvey Norman ((HVN)), Oil Search ((OSH)) and Nufarm ((NUF)) on Thusday.

As well, QBE Insurance ((QBE)) is set to hold its annual general meeting on Wednesday and Bank of Queensland ((BOQ)) is scheduled to release its interim results on Thursday.

For more information: see the FNArena calendar on the website (updated regularly) and Monday’s The Week Ahead.

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