Here are some important economic data that will be the focus of the market throughout the week.
New Zealand Central Bank Policy Meeting (Wednesday 10.00 AM): Since the largest decline in interest rates by the Reserve Bank of New Zealand (RBNZ) in March during the onset of the pandemic crisis, interest rates have remained at 0.25% unchanged. With the economic impact still at risk, investors will scrutinize the central bank's latest projections on the policies to be implemented.
European Manufacturing and Services PMI Data (Wednesday 4.00 PM): Before European data is published, PMI data readings in France and Germany will be of early concern. A good reading of the data will support the movement of the Euro currency in the market.
UK Manufacturing and Services PMI Data (Wednesday 4.30pm): Since last June, PMI data readings in the UK remain above the 50 levels separating the expansion and contraction of the economy. A good reading of the data will support the Pound trade and offset the impact of depreciation due to Brexit uncertainty.
US Manufacturing and Services PMI Data (Wednesday 9.45pm): In the New York session, PMI data for the United States (US) will follow. Despite the risk of contagion, some readings of US economic data still display positive figures.
Swiss Central Bank Policy Meeting (Thursday 3.30pm): The Swiss National Bank (SNB) is expected to continue to keep interest rates at a low of -0.75% unchanged. Central bank policy projections will be focused on by investors.
German Business Climate Data (Thursday 4.00 PM): This survey data will provide an overview of the current health of the European economy involving spending, investment, and so on.
US Durable Goods Order Data (Friday 8.30pm): Expectations for a declining reading figure will have an impact on the US dollar depreciation over the weekend.
