Next Week At A Glance

Tonight sees all major Western markets closed and next week the ASX is open only on Tuesday, Wednesday and Friday, amidst school holidays, so volumes will no doubt be thin. Wall Street is open on Monday night and all week.

The local corporate calendar largely dries up for the week before returning with gusto the following week, but it does contain a production report from Northern Star ((NST)), a quarterly result from UR Westfield ((URW)), and updates from Atlas Arteria ((ALX)) and GPT Group ((GPT)).

Economic data is also thin on the ground except for one biggie – the March quarter CPI numbers on Wednesday. Friday brings the PPI and import/export prices.

The Bank of Japan holds a policy meeting on Thursday.

US data next week include new and existing home sales, house prices, durable goods and consumer sentiment. Friday sees the first estimate of March quarter GDP.

Ahead of that highly anticipated result, it is the biggest week on the US earnings season calendar in terms of percentage of S&P500 stocks reporting.

Any resultant break-out through the prior all-time highs will find an Australian market with nobody home, so it could be volatile.

Greg Peel

About Greg Peel

Greg Peel joined Macquarie Bank in 1986 and acquired trading experience in equities, currency, fixed income and commodities derivatives, ultimately being appointed director of equity derivatives trading. He later published In With The Smart Money (a plain English guide to the mysterious world of financial markets and derivatives) and acted as a consultant to boutique investment funds. In 2004 Greg joined FNArena as a contributing writer. He is now a director and principal of the company. Greg compliments the journalistic background of the FNArena team with lengthy experience as a financial markets proprietary trader.

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