July 5, 2021

6 Important Economic Data News Market Focus This Week (5-9 July 2021)

 Here are some of the important economic data that will be the focus of the market throughout the week.

Australian Central Bank Policy Meeting (Tuesday 12.30pm): The Reserve Bank of Australia (RBA) is expected to keep interest rates unchanged, but the central bank's follow -up statement will be a policy indicator for investors as most economic analysts begin to predict changes in monetary policy with anticipation for the initial step of tightening.

German Economic Sentiment ZEW Survey (Tuesday 5.00pm): The outlook on investors in Germany as Europe’s largest economy will be seen as an indicator of measuring the economic health of the bloc. A drop in the reading will add to the pressure on the Euro which has been showing dismal movements for several weeks.

US Services PMI Data ISM Survey (Tuesday 10.00pm): There is likely to be a slight decline in readings like last week's manufacturing sector, but is still expected to be at a stable level for the US services sector.

FOMC Meeting Minutes (Thursday 2.00 AM): After the results of the previous meeting saw the strengthening of the US dollar, investors will scrutinize further details in the minutes of the meeting to be published this week for any updates.

UK Gross Domestic Product Data (Friday 2.00pm): The monthly reading of UK GDP growth for May which is expected to record a decline will add to the pressure on Pound currency trading following the central bank's dovish statement on monetary policy earlier.

Canadian Jobs Data Report (Friday 8.30pm): Positive for the Loonie currency, Canada is expected to record an increase in re -employment for June after the economy lost 68,000 jobs it had recorded last May. While the unemployment rate is also forecast to decline.