##{"id":60248,"date":"2012-07-13T10:27:10","date_gmt":"2012-07-13T00:27:10","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/07\/13\/next-week-at-a-glance-178\/"},"modified":"2012-07-13T10:27:10","modified_gmt":"2012-07-13T00:27:10","slug":"next-week-at-a-glance-178","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/07\/13\/next-week-at-a-glance-178\/","title":{"rendered":"Next Week At A Glance"},"content":{"rendered":"

\n\tFor 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 <\/em>FNArena<\/span> Calendar<\/a>.<\/em><\/p>\n

\n\tLater today we will learn Beijing's calculation, for want of a better word, of China's June quarter GDP. Economists are forecasting in the 7.6-7.8% growth range, which is not far off Beijing's 7.5% target. The issue here, however, aside from any apparent slowing in Chinese growth sending shivers through Australian and global markets, is that a number close to 7.5% will have arrived rather quickly – this, after all, is Beijing's 2012 target and we're only half way through. Two rapid rate cuts in June and July suggest Beijing has also realised<\/span> the pace of slowing has become a little worrisome. <\/p>\n

\n\tWith the world remaining in a gloomy mood, and the US earnings season off to an ominously weak start, we then move into next week in which we will see a plethora of economic data releases.<\/p>\n

\n\tIn the US we'll see business inventories, retail sales and industrial production, housing sentiment, housing starts and existing home sales, the Empire State and Philly manufacturing indices and the Fed Beige Book. Is the US heading into double dip (again)? I say again as although it hasn't officially double-dipped since the GFC<\/span>, every year we worry that it will. <\/p>\n

\n\tIn Europe we'll have the eurozone<\/span> trade balance and the ZEW<\/span> sentiment survey and in China we'll see property prices and, on Friday, the HSBC flash manufacturing PMI.<\/p>\n

\n\tIn Australia the calendar will be less busy economically, with vehicle sales and NAB's quarterly summary of business confidence the main highlights. The RBA<\/span> will, however, release the minutes of its last meeting on Tuesday.<\/p>\n

\n\tMore importantly in Australia next week we'll see some big quarterly production results from the miners and drillers, with Fortescue<\/span> ((FMG<\/span>)), Rio Tinto ((RIO)), BHP<\/span> Billiton<\/span> ((BHP<\/span>)) and Santos ((STO<\/span>)) all reporting.<\/p>\n

\n\tThere will also be some big guns reporting quarterly earnings in the US, with the banks a feature next week along with General Electric and other big Dow names. Not so good so far, will next week see improvement? <\/p>\n","protected":false},"excerpt":{"rendered":"