Deputy Governor Guy Debelle hits the speaking circuit for a second successive week. And a bevy of Reserve Bank officials partake in panel discussions at the Sibos Conference in Sydney.

Monday, Monday

The week kicks off in Australia when the Commonwealth Bank releases the latest Business Sales Indicator – a measure of economy-wide spending. Recent data has indicated firm but moderating growth in sales and Deputy Governor at the Reserve Bank, Guy Debelle, delivers a speech at the Walkley Business Journalism Awards in Sydney.

On Tuesday 

The regular weekly reading on consumer confidence is published by ANZ and Roy Morgan and the Deputy Governor at the Reserve Bank, Guy Debelle, delivers a speech to the 2018 ISDA Annual Australia Conference in Sydney.

On Tuesday & Wednesday

The Reserve Bank panellists participating at the Sibos 2018 Conference in Sydney include: Lindsay Boulton (Assistant Governor, Business Services), Michele Bullock (Assistant Governor, Financial System), Guy Debelle (Deputy Governor), Greg Johnston (Head of Payments Settlements) and Tony Richards (Head of Payments Policy).

And also on Wednesday, the Department of Jobs and Small Business releases its monthly Internet Vacancy report. Skilled job vacancies rose by 0.6% in August – the strongest growth rate in six months. The index is 4.5% higher than a year ago – still near six-year highs.

Overseas: US economic growth takes centre stage

In the US in the coming week the focus will be on the September quarter economic growth or gross domestic product (GDP) report. And a raft of business and consumer confidence surveys are due together with housing data and durable goods orders while the US Federal Reserve Beige Book is released.

On Monday

In the US, the Chicago Federal Reserve National Activity Index is issued. 

On Tuesday

And another influential manufacturing gauge from the Federal Reserve Bank of Richmond is released. And the regular weekly chain store sales figures are published in the US.

On Wednesday

The Markit “flash” purchasing manager index (PMI) survey estimates are issued for the US, France, Germany, the Eurozone and Japan. And the US Federal Reserve’s Beige Book is released together with the weekly data on new mortgage applications. Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its district through reports from bank and branch directors and interviews with key business contacts, economists, market experts and other sources. The report is published eight times a year.

Also, the Federal Housing Finance Agency (FHFA) home price index is tipped to increase by a further 0.3% in August from the previous month. Over the year, prices are up by 6.4%. But new home sales are forecast by economists to fall by 0.2 per cent in September as 30-year fixed mortgage rates lifted to 5.05% last week, the highest level since February 2011.

On Thursday        

The data deluge continues in the US. Pending home sales, weekly new claims for unemployment insurance, the ‘advance’ September data on trade in goods, durable goods orders, wholesale inventories and the Kansas Federal Reserve Manufacturing Index are all issued.

On Friday

In the US the ‘advance’ GDP report for the September quarter is released. Annual GDP growth is expected to decelerate to 3.3 per cent from four-year highs of 4.2%. And the University of Michigan’s final reading on consumer confidence for October is expected to lift by 0.5 to 99.5 points. 

And on Saturday

Chinese industrial profits data are scheduled.

Financial markets

While the majority of US S&P 500 companies will report earnings results for the September quarter over the next few weeks, around 5% of the companies in the index (around 24 companies) have already reported. Interestingly, the majority has cited US dollar strength as the most negative influence on profits, ahead of rising input costs from tariffs and wages pressures.

Companies expected to report earnings this week include:

On Monday: Halliburton, Kimberly-Clark and Moelis.

On Tuesday: Allegheny Technologies, Biogen, Caterpillar, Harley-Davidson, Lockheed Martin, McDonald’s, Wynn Resorts.

On Wednesday: Advanced Micro Devices, AllianceBernstein, AT&T, Boeing, Ford, Freeport-McMoran, Hilton, Legg Mason, Microsoft, Nasdaq, Packing Corp., UPS, Visa and Whirlpool.

On Thursday: Alphabet, Amazon, American Airlines, Baker Hughes, Dow Chemical, Intel, Merck, Snap and Xerox.

On Friday: Alliance Media, Colgate-Palmolive, Goodyear, NextGen Healthcare, Moody’s, Philips 66 and Weyerhaeuser.