Here are some of the important economic data that will be the focus of the market throughout the week.
US Manufacturing PMI Survey Data (Monday 10.00pm): The manufacturing sector in the United States (US) showed strong growth with expectations that the US economy will continue to maintain a rapid pace of recovery. The reading is expected to rise slightly to 65.0 from 64.7 previously.
Australian Central Bank Policy Meeting (Tuesday 12.30pm): The Reserve Bank of Australia (RBA) will hold its fourth policy meeting this year with interest rates expected to remain unchanged. A follow -up statement by the RBA will be given attention as an indication of the upcoming policy to investors.
New Zealand Employment Data Report (Wednesday 6.45am): Employment growth for the last quarter of 2020 in New Zealand is expected to decline while the unemployment rate remains at 4.9%. Weak data readings and a focus for this central bank will put pressure on the New Zealand dollar.
Bank of England Policy Meeting (Thursday 7.00pm): The Bank of England (BOE) is still expected to keep interest rates unchanged and maintain bond purchases. The UK economy is seen to be showing good growth after the latest meeting last March with an intensified vaccination program. The central bank is also seen as not yet motivated to tighten current policies.
US NFP Employment Data Report (Friday 8.30pm): Having jumped to 916,000 in the previous month, the increase in US jobs for April is expected to continue to rise to 975,000 and it is not impossible for the figure to reach 1 million. With the expectation for a decline in the unemployment rate is also seen to support the strengthening of the US dollar in the market.
Canadian Employment Data Report (Friday 8,300pm): The labor sector in Canada rated positive after a jump to 300,000 in March last surpassed expectations of a decline. The unemployment rate has also declined nicely. Does the reading of the report for April also give a good indication for Canada?
