Here are some important economic data that will be the focus of the market throughout the week.
German Business Climate Data Survey ifo (Monday 5.00 PM): The data that will be the biggest economic health indicator in Europe is from the survey of current and expected businesses for the next 6 months. Investors will evaluate whether the business sector is moving well or otherwise based on the current survey reading.
UK Employment Data Report (Tuesday 3.00 PM): Unemployment claims in the UK dropped to 7,000 in December from 64,300 in the previous month. The latest readings for January will be assessed along with the average income index over 3 months as well as the unemployment rate in the UK.
European Inflation Data (Tuesday 6.00 PM): The final reading of the European consumer price index is expected to remain unchanged from the previous reading of 0.9%. However, this reading has already shown an increase compared to the previous negative level.
Central Bank of New Zealand Monetary Policy Meeting (Wednesday 9.00 AM): Reserve Bank of New Zealand (RBNZ) is expected to continue to maintain its unchanged interest rate at 0.25%. A follow-up statement by the central bank will be used as an indicator by investors for future policies.
US Gross Domestic Product Data (Thursday 9.30pm): The reading of US GDP data for the last quarter of 2020 will be the focus of investors. The initial reading figure declined lower again to 0.4% after the previous quarter recorded a surge. Subsequent readings are not expected to change much at a low level.
