The first week of September is the traditional return to desk, after a long summer break, for many traders and investors as the northern hemisphere ends its summer slumber and gets ready to re-enter the market.
But this year’s return to desk coincides with the release of some massive data release both here in Australia and across global markets.
Locally we have a full calender with the highlight being the release of Q2 2014 GDP at 11.30 am next Wednesday morning. Before that though we see the release of some partial indicators including inventories, net exports and government spending.
Australia also has an RBA Board meeting and Governors announcement next Tuesday afternoon and we’ll be watching retail sales on Thursday closely to see if Australians really are caving at the moment.
So by week’s end we’ll know where the economy was in Q2, we’ll know how it is going in Q3 (retail sales) and we’ll have a strong sense of where it is headed as we await the employment data, NAB Business survey and Westpac consumer confidence the week after.
What a fortnight coming up at home let alone the ECB and BoE decision and US non-farm payrolls in the US next week. And dont forget the HSBC Chinese PMI.
It’s going to be huge. And we’ll be covering it all here on BI.