It will be a big week for the world next week, although most the action will come at the end. Supposedly the US and China trade delegations are now in discussions to set the agenda for the confirmed G20 sideline meeting between the two presidents, but as to when exactly this occurs is not yet known. It might happen on the Friday or it might be on the weekend.
What transpires will determine the direction of global stock markets in the near term.
Before that we have the OPEC meeting on Tuesday night at which members, and probably Russia, will decide whether or not to continue production restrictions.
Throughout the week some influential US data will be released, including two measures of consumer confidence, durable goods orders, PCE inflation and another revision of the March quarter GDP result, along with new and pending home sales, house prices and the Richmond Fed index.
China will release its June PMI numbers on Friday.
The RBNZ will make a rate decision on Wednesday. The central bank scorecard so far this month is Fed, ECB and Bank of Japan standing ready to cut (or otherwise provide stimulus) and the RBA having cut with the promise of more to come. We’ll see how they go in Wellington.
The RBA governor will again speak on Monday but there’s little more he can add.
Private sector credit is next week’s only major Australian economic release.
On the local stock front, Metcash ((MTS)) and Collins Foods ((CKF)) report earnings, CSR ((CSR)) holds its AGM and Fletcher Building ((FBU)) hosts an investor day.
