Trader’s Diary: Everything you need to get ready for the week ahead

Last week was headlined by the weak Chinese GDP data, which grew by only 4.9% annually in the last quarter compared to analysts’ forecast of 5.1%.

The Chinese economy has been hit by power outages and supply disruptions that have adversely impacted industrial production.

And there’s Evergrande, a crisis that has shrunk the country’s output in the real estate and construction industries by 1.6% and 1.8% respectively.

In the US, the number of new Americans filing for jobless claims fell by 6,000 to a 19-month low of 290,000.

The data supports the market’s expectations of an imminent rate hike in the US, with the 10-year Treasury now at its highest level since June.

Fixed income traders are pricing in a 60% chance of a US rate hike by June next year.

Back home, the Australian Bureau of Statistics (ABS) said that payroll jobs rose modestly by 0.2% in the fortnight to September 25, up from a 0.6% drop in the previous two weeks.

The ANZ-Roy Morgan Consumer Confidence was up for the sixth straight week in October, following the end of Sydney’s 106-day lockdown.

Economic calendar for this week

Australia

Australia’s inflation report on Wednesday will dominate this week’s calendar.

TUESDAY:
ANZ weekly consumer confidence. It fell by 7.2 points last week.

WEDNESDAY:
CPI for the September quarter. The last reading was 0.8%, and the market is expecting that to fall to 0.7% in the September ending quarter.

THURSDAY:
International (export and import prices). Last quarter showed an increase of 13.2% for exports, and 1.9% for imports.

FRIDAY:
Producer price index for the September quarter. It rose by 0.7% in the last quarter.
Retail trade for the September quarter.

International calendar

US (US time)

TUESDAY:
US homes prices for August. In the previous month, it rose by 1.4%.
US new home sales for September. It rose by 1.5% in August.
US consumer confidence for October. The market is expecting consumer sentiment to rise.

THURSDAY:
US GDP for the September quarter. In the last quarter, US GDP rose by 6.7% QoQ, but the market is expecting that to drop to 3.2% this quarter.

FRIDAY:
US personal income and spending for September.

Europe (European time)

The headline for the week will be dominated by Friday’s CPI report.

THURSDAY:
Business and Consumer survey. The market expects it to drop slightly.
ECB interest rates decision.

FRIDAY:
Eurozone CPI report. The last reading was 3.4%, and the market is expecting Eurozone inflation rate to rise to 3.7%

ASX IPO calendar for this week

MONDAY:
Eastern Metals (ASX:EMS), a junior base and precious metals explorer with initial interests in three projects located in the NT and NSW. The company raised $4.5m at 20c a share.

TUESDAY:
GQG Partners Inc (ASX:GQG), a global boutique asset management firm that raised $1.306 billion at $2.20 a share.

RemSense Technologies (ASX:REM), an engineering services company that has partnered with Woodside Petroleum and raised $5m at 20c a share to fund the global rollout of its ‘digital twin’ technology.

C29 Metals (ASX:C29), a mineral explorer with a focus on developing prospective copper, gold and base metal assets throughout Australia. The company raised $5m at 20c a share.

WEDNESDAY:
Star Minerals (ASX:SMS), a mineral explorer that has raised $4m at 20c.

THURSDAY:
Aurum Resources (ASX:AUE), a junior explorer that has raised $5m at 20c.

FRIDAY:
Cooper Metals (ASX:CPM), a mineral explorer with a focus on developing copper and gold deposits in Queensland and Western Australia. The company raised $4.8m at 20c a share.