5 Important Forex News Market Focus This Week (October 12-16, 2020)

 Here are some important economic data that will be the focus of the market throughout the week.

UK Employment Data Report (Tuesday 2.00 PM): In addition to the focus on job growth in the UK whether there is an increase or otherwise, investors will also evaluate the average income index which has recorded a decline for 3 consecutive months. Unemployment rates that are expected to increase will add pressure to Pound currency trading.

European Economic Sentiment Data ZEW Survey (Tuesday 5.00 PM): The reading increase for the economic health survey in Europe has been above 70.0 since last August with the latest expectations also rising. However, the rate of increase is likely to be affected by the latest transmission of pandemic waves.

US Inflation Data (Tuesday 8.30pm): The consumer price index in the United States for the September reading is expected to continue its downward trend while the implementation of the stimulus package is still under discussion.

Australian Employment Data Report (Thursday 8.30am): The market expects the Australian economy to lose up to 35,000 jobs for September after successfully recording an increase of 111,000 jobs in August. The unemployment rate is also forecast to decline to 7.1% from 6.8%.

US Retail Sales Data (Friday 8.30pm): With the pandemic situation plaguing the United States, sales in September are likely to decline due to more limited consumer activity.