The Week Ahead 

Key market and corporate announcements

Monday

AGM: Pro Medicus Limited

Tuesday

Economic: S&P Global PMIs (Aus), RBA Governor Philip Lowe speech at annual CEDA dinner (Aus), US FOMC Minutes (US)

AGMs: BlueScope Steel Limited, Brickworks Limited, Fortescue Metals Group Ltd, Liontown Resources Limited, Monadelphous Group Limited, The Star Entertainment Group Limited

Wednesday

Economic: National Skills Commission Skilled Job Vacancies (Aus), RBNZ interest rate decision (NZ)

AGMs: Abacus Group Holdings, Austal Limited, Hills Limited, Integrated Research Limited, Mesoblast Limited, Netwealth Group Limited, Shopping Centres Australasia Property Group, WiseTech Global

Thursday

AGMs: Arena REIT, Evolution Mining Limited, Hansen Technologies Limited, Harvey Norman Holdings Limited, Karoon Energy Australia Ltd, Kogan.com Ltd, New Hope Corporation Limited, Nick Scali Limited, Qube Holdings Limited, Ramelius Resources Limited, Regis Resources Limited, Ridley Corporation Limited

Public holiday: Thanksgiving Day (US)

Friday

Economic: GDP Growth Rate Q3 (Singapore)

AGMs: Beston Global Food Company Limited, EML Payments Limited, Silver Lake Resources, Westgold Resources Limited

Graph of the Week:

The Australian Dollar has historically played the role of an economic ‘shock absorber’

The A$ has not bottomed. While the currency has already fallen around 15% against the US$ year to date, widening differentials between Australian and US interest rates are likely to remain a strong headwind for any sustained upside. In addition, a reset in expectations for a Chinese economic rebound are also likely to weigh on the commodity price outlook (iron ore prices have come back sharply) and reduce the A$ tailwind.

The Weekly Wrap

Some economic news from last week

  • Australia's unemployment rate decreased to 3.4%, participation rate remained at 66.6% and employment increased to 13,623,700.
  • Reuters reports that signs of weakness are emerging across the Chinese economy - exports have declined, new bank lending is down and inflation has slowed.  This is despite authorities bucking the global trend so far this year by deploying monetary and fiscal easing. 
  • Regulators around the world opened investigations into ftx, after the crypto exchange and its sprawling network of affiliated firms filed for bankruptcy protection. Traders withdrew $6bn from the platform in just 72 hours amid claims that it had mishandled customers’ investments. ftx could owe money to as many as 1m people. 

Some corporate highlights from last week

Education

Energy & Resources

Financial Services 

Healthcare

Infrastructure & Construction

Real estate

Other news of interest