Couple of things happening next Tuesday…if I can think…oh yes – an RBA rate cut and QE announcement, a silent horse race and that night, a rather important election.
Not that’s there’s much hope of us knowing on Wednesday who’s won. Or even that week. Maybe month.
So with jitters now set in on Wall Street and Australia playing ally as usual, the buzzword for next week will probably be volatility.
Australia will also see a lot of economic data releases next week, including job ads, building approvals, house prices, housing finance, retail sales and trade, along with October PMIs in line with the rest of the world.
The RBA will also publish a quarterly Statement on Monetary Policy, three days after revising monetary policy.
The Fed also holds a policy meeting next week and for some time Jerome Powell has been screaming for more fiscal stimulus. Will the Fed be prepared to take the baton given there is none? Not likely before the election result is known.
It’s also jobs week in the US, with private sector numbers on Wednesday and non-farm payrolls on Friday.
The local resource sector quarterly reporting season ends this week, the AGM season continues through next month, and next week we suddenly have a mini earnings season.
Results are due from Westpac ((WBC)), National Bank ((NAB)), Macquarie Group ((MQG)), CSR ((CSR)), UR Westfield ((URW)), Amcor ((AMC)), News Corp ((NWS)) and REA Group ((REA)), along with some other quarterly updates.
The books are now open for Tuesday, if you want to place a bet on how many new cases will result from Cup Day parties. Victoria is “closed” on Tuesday, but we’re used to that difference.
Note that the US goes off summer time this weekend so as of Tuesday morning, the NYSE and SPI Overnight will close at 8am Sydney time.
