Here are some of the important economic data that will be the focus of the market throughout the week.
Japan Central Bank Policy Meeting (Tuesday): In its latest meeting, the Bank of Japan (BOJ) is expected to keep interest rates unchanged. Meanwhile, statements by the central bank on monetary policy will be the focus with expectations that loose policy will continue.
Australian Inflation Data (Wednesday 9.30am): Readings for the consumer price index in Australia for the first quarter of 2021 will be published this week. Reading figures are forecast to remain the same as the previous quarter.
FOMC Meeting (Thursday 2.00 AM): The Federal Reserve (Fed) policy meeting for the third time this year is expected to still keep interest rates at a low of 0.25%. Investors expect the Fed to continue policy easing to support the economy. Meanwhile, a hawkish -toned statement by the Fed will strengthen the value of the US dollar in the market.
US Gross Domestic Product Data (Thursday 8.30am): Preliminary readings for US GDP growth for the first quarter of 2021 will be published. Expect the reading figure to increase to 6.5%.
China Manufacturing and Services PMI Data (Friday 9.00 AM): As the second largest economy in the world, the development of the economic sector in China will continue to be the focus of investors. However, reading the latest data for the manufacturing and services sectors is seen to remain positive.
Canada’s Gross Domestic Product Data (Friday 8.30pm): Canada will publish its monthly GDP report this weekend. The Canadian economy is expected to record 0.9% growth for February, up from 0.7% in January.
