Here are some important economic data that will be the focus of the market throughout the week.
US Manufacturing PMI Data ISM Survey (Monday 11.00 PM): Despite the latest wave of pandemics and political uncertainty in the US, economic activity still shows good reading with the survey on the manufacturing sector continuing to show expansion over the past 4 months. Readings of the latest survey data are expected to remain positive.
Australian Central Bank Policy Meeting (Tuesday 11.30am): Reserve Bank of Australia (RBA) is expected to lower its interest rate to 0.10% from its previous low of 0.25%. It is expected that further policy easing will affect the depreciation of the Aussie dollar.
US Services PMI Data ISM Review (Wednesday 11.00 PM): The US services sector has exhibited positive data readings over the past 4 months with readings seen to be better than the manufacturing sector. The latest reading is also expected to increase.
Central Bank of England Policy Meeting (Thursday 8.00pm): The Bank of England (BOE) is expected to continue to maintain interest rates at 0.10% at the latest meeting and also maintain a quantitative easing of £ 745 billion.
FOMC Meeting (Friday 3.00 AM): Investors will focus on the results of the FOMC meeting for guidance by the Federal Reserve (Fed) in tackling the economic crisis.
US NFP Employment Data Report (Friday 9.30pm): Jobs in September declined lower than expected with an increase of around 661,000 making the decline for 3 consecutive months. The increase in employment in October is expected to slow around that level while the unemployment rate is expected to decline.
Canadian Employment Data Report (Friday 9.30pm): Also published with NFP data is the employment data report in Canada for October after the increase exhibited last September will give positive momentum. The unemployment rate also showed a decline pattern for 4 consecutive months.
