Here are some important economic data that will be the focus of the market throughout the week.
US Manufacturing PMI Data ISM Survey (Monday 10.00 PM): The manufacturing sector in the United States (US) is still showing readings at the expansion level since the second half of 2020. The survey figures for January are expected to change little compared to the previous month.
Australian Central Bank Policy Meeting (Tuesday 11.30am): The Reserve Bank of Australia (RBA) has maintained interest rates at 0.10% after lowering the lows at the November 2020 meeting. The first meeting for 2021 is not expected to see much policy change with expect rates to continue to be maintained.
New Zealand Employment Data Report (Wednesday 5.45am): The employment sector in New Zealand is expected to decline slightly by December 2020 with the expected unemployment rate to rise to an all-time high of almost 5 years.
Central Bank of England Policy Meeting (Thursday 8.00pm): The Bank of England (BOE) is expected to keep interest rates at a low of 0.10% while investors will review quarterly reports by committee members to assess the current health of the UK economy.
US NFP Employment Data Report (Friday 9.30pm): After the US economy recorded job losses of up to 140,000 in December, for January 2021 it is expected to be positive again with the projected increase of 55,000 jobs. Meanwhile, the unemployment rate is expected to remain at 6.7%.
Canadian Employment Data Report (Friday 9.30pm): Also published with the US NFP report is the Canadian employment data report. Investors are waiting for the increase in employment for January 2021 after December 2020 to record 62,600 sectarian job losses, the biggest decline since April 2020. The unemployment rate is still high, but shows a downward trend in reading figures.
