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