Here are some important economic data that will be the focus of the market throughout the week.
China Manufacturing and Services PMI Data (Monday 9.00 AM): Both data readings for manufacturing and services in China recorded rising numbers for November signaling economic activity is in good shape.
Australian Central Bank Policy Meeting (Tuesday 11.30am): Reserve Bank of Australia (RBA) is expected to maintain interest rates at 0.10% after downgrading to the previous meeting. Investors will review further statements on further central bank policies.
US Manufacturing PMI Data ISM Survey (Tuesday 11.00 PM): The manufacturing sector in the United States remains performing well despite the world's largest economy at the risk of pandemic transmission. The latest reading is not expected to change much after the previous reading recorded an expansion to the highest level since December 2018.
Australian Gross Domestic Product Data (Wednesday 8.30am): GDP growth for the third quarter in Australia is forecast to rise again after recording a drop of -7.0% in the previous quarter which has prompted the central bank to continue to increase policy easing.
US NFP Employment Data Report (Friday 9.30pm): Being the focus data in the first week of each month, the US NFP employment data will provide an overview of the labor sector that has a significant impact on financial markets. The number of jobs for November is expected to decline slightly.
Canadian Employment Data Report (Friday 9.30pm): Also published with NFP data is employment reports in Canada. After recording a significant increase in employment last June, the reading figures began to show a declining pattern until the end of the year.
