Next Week At A Glance
OPEC members will meet tonight in Vienna to discuss whether or not they will increase production, meaning reduce production cuts, to offset potential lost exports from Iran and Venezuela, both of whom are against the idea. And if they do, by how much.
Next week is the end of the quarter and for Australia, the end of the financial year for most companies and fund managers. Look out for book-squaring and window-dressing as the week progresses.
It’s a busy week for US data releases, which include new and pending home sales and house prices, consumer confidence, durable goods, the trade balance, the Richmond Fed index, Chicago PMI and personal income & spending, including the PCE measure of inflation.
The US first quarter GDP result will also be revised.
The RBNZ holds a policy meeting on Thursday.
Friday’s private sector credit data is the only highlight in Australia.
There’s a bit going on in the local stock market next week, nevertheless.
On Thursday, ASX individual June quarter stock options expire.
Most notably on Thursday, it’s REIT/infra fund ex-dividend day, when 25 stocks go ex-div and almost all of them are high yield payers. This will put an artificial dent in the index on the day.
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