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Next Week At A Glance

Weekly Reports | Dec 15 2017

This story features ANZ GROUP HOLDINGS LIMITED, and other companies. For more info SHARE ANALYSIS: ANZ

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

As we head into the last week before Christmas, the world’s attention will be on whether Santa brings Trump a tax reform bill to sign, having been passed by both houses of Congress. While the Republican Party as a whole seems intent on succeeding in this Yuletide achievement, at present the timing looks unlikely.

We’ve had our first declared objector – Senator Marco Rubio. At this stage there’s been no reconciled bill put forward, and hence no discussion of whether the Republicans have the numbers to go to a vote. The odds are against success as early as next week.

Of course unlike here downunder, where the whole country shuts down from Christmas Day through to around mid-January, Christmas in the US is but a one day distraction. It’s back to business on what we call Boxing Day. So it may be tax success is achieved when the local market is a ghost town.

US data releases next week include housing sentiment and starts, new and existing home sales, house prices, leading indicators, personal income & spending, durable goods and consumer sentiment. The final revision of September quarter GDP ahead of the first estimate for the December quarter is also due.

New Zealand posts its September quarter GDP result on Thursday.

The Bank of Japan rounds out the Big Four central bank policy meetings next week.

The week before Christmas is devoid of major Australian data releases, but for the minutes of the December RBA meeting.

On Thursday, all ASX equity derivatives expire for the December quarter. The fact the ASX200 is struggling to break away from 6000 might be explained by a high level of positions at this strike price.

ANZ Bank ((ANZ)), DuluxGroup ((DLX)) and Incitec Pivot ((IPL)) all hold AGMs next week.

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