Here are some important economic data that will be the focus of the market throughout the week.
European Manufacturing PMI data (Monday 5.00 PM): The manufacturing sector in Europe is still showing good growth figures since August last year. It is expected that there will be no change in the final reading number as published in the previous reading at 57.7 points.
UK Manufacturing PMI Data (Monday 5.30pm): The UK manufacturing sector has been growing well since July last year giving good signals for economic recovery. The final reading is also predicted to be unchanged compared to the initial reading published.
US Manufacturing PMI Data ISM Survey (Monday 11.00 PM): The manufacturing sector in the US also showed a growth rate above 50.0 since July last year. The reading figures for the world's largest economic sector are expected to remain positive.
Australian Central Bank Policy Meeting (Tuesday 11.30am): The focus will be on the second policy meeting of the year by the Reserve Bank of Australia (RBA). The interest rate is expected to be maintained at the 0.10% standby level, but a follow-up statement by the central bank will be the market's next policy indicator.
Australian Gross Domestic Product Data (Wednesday 8.30am): Australian GDP growth data for the last quarter of 2020 is expected to decline compared to the previous quarter. Passive data readings will have a negative impact on the movement of the Aussie dollar currency in the market.
US NFP Employment Data Report (Friday 9.30pm): The increase in employment in the United States for February is expected to be higher than the previous month's reading. The average hourly earnings are likely to remain unchanged at 0.2% while the unemployment rate is expected to increase slightly to 6.4% from 6.3% previously.
