A quiet week ahead around the world with America’s Thanksgiving holiday on Thursday seeing trading halted for the day, and a half session on Friday, meaning most traders will play it safe.
In Australia, speeches by RBA officials Chris Kent and Chris Aylmer tomorrow, will be watched for clues on the interest rate outlook.
September quarter construction data on Wednesday will provide an input into September quarter GDP and are likely to show another fall in mining engineering investment but continuing strength in housing construction.
Annual meetings continue with the most important being Woolworths and Qube Logistics on Thursday, and Estia tomorrow.
Other meetings include South32, IOOF, Primary Healthcare, Select harvests, Seek, PMP, Shopping Centres Australasia, Webjet, Breville Group and Monadelphous Group.
Financial results are expected from Technology One (full year), Australian Agricultural Co (interim), Programmed Maintenance (interim) and CYBC Plc (full year- the old UK banks of the NAB).
In the US, the manufacturing conditions survey results on Wednesday night, our time, existing home sales on Tuesday, new home sales on Wednesday, and durable goods orders the same day.
The minutes from the last Fed meeting (also Wednesday night, our time) will be very dated after Fed chair, Janet Yellen’s appearance before a Congressional Committee on Friday where she made it clear another rate increase is on the way.
Financial results expected this week from the US, Asia and Europe include Tyson Foods, HP Inc, Hormel, Campbell Soup, Weibo and Siemens.
And the US sees the annual Black Friday retailing sales burst which also marks the start of holidays.
The four-day period covers Thanksgiving day, Black Friday, Small Business Saturday and Sunday which online retailers will start their version of the sales fest.
In Europe, manufacturing and services conditions surveys are out Wednesday and the AMP’s Chief Economist, Shane Oliver says they are are expected to have remained solid and consistent with a slight pick-up in economic growth.
In the UK, the autumn statement on Wednesday night, our time from the Chancellor, Philip Hammond will contain a litany of bad news with debt, spending and deficits rising, thanks mostly to the Brexit decision and higher inflation from the sharp fall in the value of the pound.
Japan’s manufacturing conditions survey will be watched for further signs of improvement. Inflation data data on Friday is expected to show continuing headline deflation.
And figures out late this week is expected to show the UK economy expanded 0.5% in the third quarter from the three months to June and rose 2.3% from the third quarter of 2015.
