Here are some of the important economic data that will be the focus of the market throughout the week.
Chinese Economic Data (Monday 10.00 AM): The focus at the beginning of the week was on the publication of some Chinese economic data in particular industrial production and retail sales data. Expectations of the latest data to rise will give an indication of global economic sentiment as China is the second largest economy in the world.
US Retail Sales Data (Tuesday 8.30pm): Retail sales rates in the United States are expected to decline in February. A recovery in the reading figures is expected after economic aid begins to be channeled to the people.
Canadian Inflation Data (Wednesday 8.30pm): The Canadian consumer price index in January has posted a 0.6%increase, the highest for 7 months. The inflation rate is seen to show an upward trend in the reading figures with the latest reading for February expected to continue to increase.
FOMC Meeting (Thursday 2.00 AM): The Federal Reserve (Fed) is set to hold its latest monetary policy meeting with the market expecting a dovish -toned statement to be delivered. Investors are waiting for clues to the US economic outlook and any signals of interest rate changes.
Australian Jobs Data (Thursday 8.30pm): The Australian jobs report which is among the central bank’s focus data will drive Aussie dollar trading this week. The increase in employment is expected to remain positive while the unemployment rate is forecast to decline slightly.
Bank of England Policy Meeting (Thursday 8.00pm): The Pound Sterling currency this week will be driven by the outcome of the Bank of England (BOE) policy meeting. Interest rates are expected to continue to be maintained, but policy signals as well as negative interest rate speculation will be awaited by investors from the central bank statement.
Japan Central Bank Policy Meeting (Friday): The Asian session over the weekend will be decorated by the outcome of the Bank of Japan (BOJ) meeting. While fixed interest rates are expected to remain stable, the central bank’s latest statement for further policy easing and the possibility for the implementation of a rate cut will be the latest signal for investors for Yen trading.
