Next Week At A Glance

Weekly Reports | Mar 09 2018

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

From a fiscal perspective, presumably we will shortly be learning some specific details regarding Trump’s ever-evolving tariff plans, and thus whether or not the world is set to slide into a destructive trade war. It appears that won’t have to be the case, but the battle will be on with China at the very least.

From a monetary perspective, tonight brings the US non-farm payrolls report for February, which includes data on wage price inflation. We recall that a slight spike in the January number was worth a -10% correction for the S&P500, albeit exacerbated by short volatility derivatives.

Next week brings the US CPI.

US data releases next week also include retail sales, industrial production, housing sentiment, housing starts, consumer sentiment and the Empire State and Philly Fed indices. Friday sees the “quadruple witching” expiry of equity derivatives.

China will release February industrial production, retail sales and fixed asset investment numbers on Wednesday.

New Zealand posts its December quarter GDP result on Thursday.

In Australia we’ll see housing finance numbers and the NAB business confidence survey.

It will be a disruptive week for the local stock market, all things being equal.

The ex-dividends will continue to flow thick and fast. Thursday brings the quarterly expiry of futures and index options, which, as with US quadruple witching, can cause non sentiment-related volatility. On Friday the recent changes announced to S&P/ASX index components become effective.

Sino Gas & Energy ((SHE) will post its earnings result on Tuesday and Brambles ((BXB) will host an investor day on Wednesday.

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