DIARY: Aussie Growth, US Jobs
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So where will we be ranking internationally after the release of second quarter growth figures this week?And will American markets be able to maintain Friday's confidence if this Friday's August jobs figures are another bad story?The Australian second quarter & #160;national accounts are out Wednesday. & #160;Estimates for second quarter & #160;growth range from a quarter on quarter 0.6% to 1%, with many seeing the outcome around 0.8%.Last week's surprisingly weak second quarter investment figures forced some revisions.Today we get business indicators for the June quarter which will tell us how inventories, wages, salaries and profits went in the three months to June.Tomorrow we get the full June quarter balance of payments (and for 2009-10), plus government financing details for the quarter, which could be the big swing factor with the impact of stimulus spending fading.And & #160;retail sales and building approvals for July are out tomorrow as well, making for a very busy day.And the trade figures for July are out Thursday. Another big surplus is forecast.All will add to the data on July jobs growth (solid) that was released at the start of this month.They will give us an early idea how the & #160;subdued retailing and housing sectors have started the third quarter.So if growth is around 0.8%, that will give an annual June 30 outcome of 2.7%, unchanged with the annual rate in the year to the end of the March quarter.If it is at the top end of forecasts, 1.1%, then the annual rate in the year to June will be 3%.The Australian economy grew at 0.3% in the three months to September, 1.1% in the December quarter and 0.5% in the three months to March.And if June quarter growth is 0.8%, it will be unchanged from the June quarter rate of 2009.Growth in the US was cut from an annual 2.4% (0.6% quarter on quarter) to 1.4% (0.4% quarter on quarter) in the second estimate out Friday, but UK growth was lifted to 1.2% in its second estimate (q/q) or nearly 5% annual.German growth was over 2% quarter on quarter, but Japanese growth slowed to 0.1% quarter on quarter from 1.1% in the first quarter.Besides the ABS data, we will also get the private credit figures from the Reserve Bank tomorrow, the RBA's commodity price index on Wednesday, while RBA Assistant Governor, Guy Debelle speaks at a securitisation conference in Sydney tomorrow.ASIC chairman Tony D'Aloisio speaks in Melbourne on Friday.Overseas, the eurozone releases & #160;second quarter GDP figures while the & #160;ECB decision on interest rates and comments at a post meeting press conference from chairman Claude Trichet will be examined to see if there's any change in policy.There's the usual scattering of start of month surveys of manufacturing industry and service sector performance this week.One is due on China tomorrow and the second will come on Wednesday.Similar reports will come in Australia, the UK, Europe and the US on Wednesday and Thursday.In Europe we get surveys of EU business and consumer confidence as well as producer prices for July. Germany releases unemployment data for August.Major French groups; retailer Carrefour, investors Vivendi and Pernod Ricard the grog group are due to report their latest results this week.Friday's August & #160;employment and unemployment figures will dominate the US this week.A & #160;small & #160;lift in private payrolls is forecast, but as well there could be close to 100,000 job losses as state and federal public servants are being sacked.
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Daniel Kertcher established Platinum Pursuits in 2001 as a vehicle in which to share his knowledge of strategies to use the financial markets to grow wealth, with the aim of achieving financial freedom by making your money work for you.
His argument is that until you become financially literate and develop a method where you're able to get a reasonable return on your capital (i.e. making your money work for you), you will instead be forever working hard for your money.
Daniel Kertcher personally achieved financial freedom at a relatively young age, through his knowledge of property and then financial markets investing. Through using Options and leveraged instruments such as CFDs, Daniel developed a system to trade the markets where he could benefit from the leverage when the trade went in the direction he predicted, and hedged his positions so that there was a limited downside risk.
Some people in the past have criticised Daniel's message of striving for financial freedom in a high-risk environment such as trading derivatives. However, it is not Daniel's or Platinum Pursuits' goal to encourage everyone to trade the financial markets. Every kind of investing contains an element of risk, so this level of education is aimed specifically for those who want an understanding of professional trading techniques and strategies that they hope to apply to their own capital, and it is absolutely true that many people are not yet in a position to invest a chunk of their savings.
To be truly financially literate, it can pay to explore all the options available when you are in a position to try to get ahead in life. Daniel currently presents free introductory seminars nationally on selected dates from February to November. |
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