China is closed all next week for its “National Day” holiday. That’s a long day. Imagine a week-long Australia Day.
For reasons I’ve never quite understood, this week off in China never gets as much attention as the New Year week off earlier in the year, despite presumably being just as disruptive to the economy. Nonetheless, stand by for some data volatility out of China in the next couple of months.
Is Victoria the only state (in both senses of the word) in the world that enjoys not just one sport-related public holiday, but two? Suffice to say, the Vics are off today and on Monday it is a Labour Day public holiday in NSW, the ACT and South Australia. The ASX remains open, in both cases, but activity slows to a crawl and the two holidays mean broker research becomes virtually non-existent.
To that end, given little choice, FNArena will provide an abbreviated service on Monday.
Monday is the first day of the month and new quarter. This means manufacturing PMIs from across the globe, followed by services PMIs on Wednesday.
It also means jobs week in the US, with the non-farm payrolls report out on Friday. Ahead of that, the week’s US data releases include the PMIs, construction spending, factory orders, private sector jobs and trade.
Australian releases include the PMIs, building approvals, trade and retail sales.
The RBA meets on Tuesday. Not sure why. I think this week’s Mad as Hell summed it up perfectly.
On the local stock front, Bank of Queensland ((BOQ)) reports earnings next week, while ASX ((ASX)) and Magellan Financial ((MFG)) hold AGMs.
The number of stocks still to go ex-dividend is now waning but there are still a few ASX200-300 stocks on next week’s list.
