Next Week At A Glance – 1-5 Nov 2021

This story features WESTPAC BANKING CORPORATION, and other companies. For more info SHARE ANALYSIS: WBC

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

Australian bond traders have been letting the RBA know for a while now that they do not agree with a stubborn insistence the first rate rise will not be until 2024, by testing the central bank’s QE purchasing resolve, thus ticking up bond rates. But yesterday they really let rip.

Hence next Tuesday’s “rate that stops a nation”, or a least in this case, RBA statement, will draw a lot of attention away from anything else happening on the day.

Monetary policy is also in focus in the US, with a Fed statement due on Wednesday night. New highs this week for Wall Street suggest the market does not expect anything more than what it already assumes – tapering to begin in December.

New highs for Wall Street also make it harder for earnings result “beats” to be rewarded, and easier for misses to be punished. Next week sees another very large number of reports, before the season begins its slow tail-off.

The Bank of England also meets next week, and has threatened a rate rise.

As it is a new month, we’ll see October PMIs from across the globe, and with regard the US economy, US jobs numbers (released on the Friday post Fed statement).

Locally we’ll see data for job ads, house prices, housing finance and building approvals and the the RBA will follow up Tuesday’s release with a full Statement on Monetary Policy on Friday.

With October over, the local quarterly update season comes to an end, but there will still be updates as the AGM season is by no means over.

We’ll also witness up a ramp-up in earnings results, with Westpac ((WBC)), Pendal Group ((PDL)), CSR ((CSR)), Amcor ((AMC)) and News Corp ((NWS)) all reporting.

Victoria is closed on Tuesday.

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