Very little on the calendar today, Australian 'partial' GDP indicators is about it
0030GMT - Australia - Company profits and inventories for Q4
- Company Operating Profit, expected +8.0% q/q prior +1.0% 9the big jump expected in today's result is mainly due to the big surge in commodity prices, mining profits to be much higher)
Q4 Inventories, expected +0.5% q/q, prior +0.8%
- Inventory numbers feed into the GDP calculation (due on Wednesday this week for Q4, preview here)
- Some analysts are expecting a net fall in inventories (note the consensus is a rise though), falls in retail and wholesale inventory to lead the way
- A fall in inventory is a key risk for the GDP number, a fall would subtract from the GDP
