Monday, November 9, 2020

7 Important Forex News Market Focus This Week (9-13 November 2020)

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

China Inflation Data (Tuesday 9.30 AM): The development of the world's second-largest economy remains the focus of the market to provide an overview of the global market chain. China's annual consumer price index is expected to decline at the October reading.

UK Employment Data Report (Tuesday 3.00pm): With the recent increase in cases of infection in the UK, the market will assess the level of health of the UK employment sector to remain stable or declining.

German ZEW Economic Sentiment (Tuesday 6.00 PM): This survey data will measure the health of the European economy with Germany as the largest economy will be the focus. The latest reading number prediction decreased slightly after being pressed by pandemic transmission factors.

New Zealand Central Bank Policy Meeting (Wednesday 9.00 AM): Reserve Bank of New Zealand (RBNZ) still maintains interest rates at 0.25% although previously there were expectations for the central bank to consider negative interest rates. The governor's follow-up statement on monetary policy will affect the movement of the New Zealand dollar.

UK Gross Domestic Product Growth Data (Thursday 3.00 PM): Preliminary GDP readings in the UK for the third quarter will have an impact on the Pound Sterling movement. The market expects the reading to pick up again after declining 19.8% in the previous quarter on the updated reading.

US Inflation Data (Thursday 9.30pm): Consumer spending data in the United States is showing a downward trend since last August with the economy seen still surviving a relatively severe pandemic outbreak. The latest reading is expected to remain at 0.2% after the previous reading dropped to that level from 0.4%.

European Gross Domestic Product Growth Data (Friday 6.00 PM): At the end of this week's trading session will focus on the initial reading of GDP in Europe for the third quarter which is expected to show no significant change in the previous quarter reading.