Holiday affected trading comes to an abrupt end today as Asia Pacific investors ready for a data flood. Friday night’s low volumes and gentle moves provide little guide to this week’s action. Pressure on bonds and gold, and further rallies in oil, copper and iron ore indicate ongoing support for a more positive global industrial outlook.
The news flow kicks off today with industrial profits in China and producer price inflation in Japan. Over the week China will release both official and unofficial PMIs, Japan drops inflation, employment and production numbers, and the US will deliver housing, national accounts and inflation numbers. Australian investors will look to building approval and credit data while keeping an eye on AGM outlook statements. Investors’ reactions could be muted today ahead of these important economic indicators.
Flexigroup shareholders will seek further details of the strategic re-shaping of the group’s offering at the AGM this morning. Over the week management teams from BHP, Mayne Pharma, Seek, Aristocrat and Premier Investments all present to investors this week. Traders are preparing for a burst of activity in the lead up to an all most certain rate rise from the Fed in just over two weeks’ time.
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