Next Week At A Glance

This story features NEWCREST MINING LIMITED, and other companies. For more info SHARE ANALYSIS: NCM

For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.

By Greg Peel

The Fed will meet next week and release its latest monetary policy statement on Wednesday night. While no rate change is expected, the odds are firming once more for a September hike, given the markets’ shrugging off of Brexit and a run of strong US data. Further clues will be sought.

The Bank of Japan meets on Friday and while it’s always difficult to know what might transpire, markets are assuming fresh stimulus of some kind will be announced. The resounding win by the government in the recent upper house election supposedly provides a mandate to attack the persistently strong yen once and for all.

These two meetings will be very much the focus of next week, possibly keeping markets at bay until developments are known. But the US reporting season rolls on, and next week also sees initial June quarter GDP estimates from all of the UK (Wednesday), US and eurozone (Friday).

There will be more data releases to ponder in the US next week, including house prices, home sales, consumer confidence, durable goods, the Richmond Fed index and Chicago PMI.

Friday will not only bring the BoJ meeting but also a dump of Japanese data, including inflation, industrial production, retail sales, and unemployment numbers.

Ahead of the Fed release on Wednesday night, Australia’s June quarter CPI numbers will be released. We recall it was the weak March quarter CPI numbers which prompted the RBA into a swift rate cut in May, and almost universal expectations of an August rate cut are based on expectation of more weak numbers in next week’s release.

In the local market, next week will see a late rush of resource sector quarterly production reports coinciding with the first trickle of early season corporate earnings releases.

Production reporters include Newcrest Mining ((NCM)), Fortescue Metals ((FMG)), Independence Group ((IGO)) and Origin Energy ((ORG)).

Earnings reporters include CYBG Plc ((CYB)), Henderson Group ((HGG)), GUD Holdings ((GUD)) and ResMed ((RMD)).

Macquarie Group ((MQG)) will also hold its AGM next week at which a guidance update is always a potential share price mover.

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