Here are some of the important economic data that will be the focus of the market throughout the week.
UK Employment Data Report (Tuesday 2.00pm): A positive report reading will be a factor supporting the economic recovery in the UK. For the April reading, the average income index is expected to rise to 4.9% from 4.0%, employment benefit claims are projected to rise to 25,000 while the unemployment rate is projected to decline to 4.7% from 4.8% previously.
US Retail Sales Data (Tuesday 8.30pm): Investors continue to scrutinize US economic data to assess the health of the world’s largest economy. Retail sales rates will give an indication of the consumer sector with the latest reading figures for May expected to decline slightly.
UK Inflation Data (Wednesday 2.00pm): In addition to concerns over the spread of the virus in the UK, UK economic data is still showing a positive reading. Inflation rates through the forthcoming UK consumer price index data will also be of concern this week. The rising reading will support the strengthening of the value of the Pound in the market.
FOMC Meeting (Thursday 2.00 AM): After the NFP report and US inflation data were published in recent weeks, the focus this week shifted to the FOMC meeting to set monetary policy. Will a mixed NFP and declining inflation push the Federal Reserve (Fed) to pursue loose policy?
Australian Employment Data Report (Thursday 9.30pm): After losing 30,600 jobs in April, Australia is expected to record an increase in jobs to 30,500 for May while the unemployment rate is expected to remain unchanged at 5.5%.
Swiss Central Bank Policy Meeting (Thursday 3.30pm): The Swiss National Bank (SNB) is expected to continue to maintain the lowest interest rate at -0.75% and a follow -up statement by the central bank will be an indication for investors for monetary policy for the future.
