Monday, October 19, 2020

7 Important Forex News Market Focus This Week (October 19-23, 2020)

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

China GDP Growth Data (Monday 10.00 AM): The market is expected to increase for economic growth in China for the third quarter based on the reading of Gross Domestic Product (GDP) data after rising in the previous quarter.

Minutes of the Central Bank of Australia Policy Meeting (Tuesday 8.30am): The Reserve Bank of Australia (RBA) has maintained interest rates unchanged at the latest meeting but signaled that interest rates will be lowered after this in addition to policy easing to be extended.

UK Inflation Data (Wednesday 2.00pm): The consumer price index in the UK showed a decline in August but is expected to rise again for September. However, the increase in pandemic transmission in the UK is likely to also affect UK inflation rates.

Canadian Inflation Data (Wednesday 8.30pm): Consumer inflation rates in Canada recorded the lowest level on data released last September following the economy affected by the pandemic crisis. Can Canadian inflation rise again for September?

European Manufacturing and Services PMI data (Friday 4.00 PM): Focusing on weekend trading, manufacturing and services data began with France, followed by Germany before European data readings were published. The reading of the data will drive Euro currency trading in the market.

UK Manufacturing and Services PMI Data (Friday 4.30pm): The reading of economic activity data in Europe is expected to decline slightly in October following a growing case of viral infections prompting the restriction of movement to be re-established.

US Manufacturing and Services PMI Data (Friday 9.45pm): Also in focus before trading this week closing the curtain is manufacturing and services data in the United States to assess the health of economic activity in the face of the latest contagious situation of Coronavirus infection.