Weekly Reports | Mar 11 2022
For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
By Greg Peel
By Thursday morning local time the Fed will have hiked its cash rate by 25 basis points, to a 0.25-0.50% range. Jay Powell has indicated such. What Wall Street will hang on, from the statement and the press conference, will be what the next step is going to be.
The market is pricing in a 100% chance of hikes in all of March, May and June (note meetings are six-weekly, not monthly), about an 80% chance in July, and then positive but lower chances for each subsequent meeting this year.
The Banks of England and Japan also hold policy meetings next week.
The US will release February wholesale inflation (PPI) numbers on Tuesday, along with retail sales.
Data are also due for housing starts, industrial production, existing home sales and the Empire State and Philly Fed indices.
New Zealand will release its December quarter GDP result on Thursday.
The Australian February jobs numbers are due on Thursday, and on the same day March quarter equity derivatives will expire.
All we need is a bit more volatility.
On Friday the ASX index changes, announced last week, become effective.
In the local stock market, the ex-dividend season rolls on, although most of the biggies are now past us.
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