7 Important Forex News Market Focus This Week (10-14 August 2020)

Here are some important economic data that have been the focus of the market throughout the week.

UK Employment Data (Tuesday 2.00pm): The spread of pandemics in the UK is seen to be deteriorating again after major cities will be ordered by curfews including the city of London. The labor sector in the UK is expected to decline in July with a decline in the average income index as well as the unemployment rate is projected to increase.

German Economic Sentiment ZEW Review (Tuesday 5.00 PM): Economic developments in Europe are also showing concern with new waves. The survey is expected to record a decline in reading numbers but is still above the 50 levels indicating economic expansion.

New Zealand Central Bank Policy Meeting (Wednesday 10.00 AM): The Asian session on Wednesday will focus on Kiwi trading following the outcome of the monetary policy meeting by the Reserve Bank of New Zealand (RBNZ) which will move the New Zealand currency.

UK GDP Growth Data (Wednesday 2.00 PM): Preliminary reading of UK Gross Domestic Product (GDP) growth for the second quarter is forecast to plummet to -20.5% and will put pressure on Pound Sterling trading.


US Inflation Data (Wednesday 8.30pm): The US consumer price index for July is expected to decline with a resurgence of Covid-19 cases in the world's largest economy. Investors fear major cities will close again if the spread continues and will cripple the economy.

Australian Employment Data (Thursday 9.30pm): After seeing a spike in employment growth in Australia in June, the economy forecast a lower figure in July with an increase of around 30,000 from 210,000 previously.

US Retail Sales Data (Friday 8.30pm): Sales rates for July will be affected after the Covid-19 wave hits the United States again. Early signals will be obtained through inflation data on Wednesday.