Here are some of the important economic data that will be the focus of the market throughout the week.
European Manufacturing & Services PMI data (Wednesday 4.00pm): The economic activity sector in Europe is seen to remain strong showing an upward trend in reading figures since the beginning of the year. Positive sentiment towards the European economy will support the movement of the Euro currency in the market.
UK Manufacturing & Services PMI Data (Wednesday 4.30pm): Next will follow the release of reading data for the manufacturing and services sector in the UK with a higher comparison of figures compared to Europe. Positive readings will curb the continued fall in the value of the Pound in previous weeks following the continued pressure of movement restrictions in the UK.
US Manufacturing & Services PMI data (Wednesday 9.45pm): The strengthening US dollar last week will surely continue its momentum if the reading data for the US manufacturing and services sector remains strong, signaling the economic recovery is on track.
Bank of England Policy Meeting (Thursday 7.00pm): Interest rates are still expected to be maintained, but what are the BOE’s indications on monetary policy? Investors will be waiting for signals to determine the direction of the Pound's movement in the market.
US Gross Domestic Product Data (Thursday 8.30pm): Investors will assess US GDP growth for final reading for the first quarter of 2021 with expectations remaining at 6.4% to be published alongside several other economic data including US unemployment benefit claims.
