Here are some of the important economic data that will be the focus of the market throughout the week.
China Manufacturing & Services PMI Data (Tuesday 9.00 AM): As the world’s second largest economy, China’s economic data will be the focus of the market to assess the health of global economic performance. The manufacturing and services sectors in China for August are expected to record readings not much changed from the previous month.
Australian Gross Domestic Product Data (Wednesday 9.30am): Australia's economic growth for the second quarter will be assessed through the release of GDP data this week. Concerns over the rising spread of viral infections in Australia are certainly hurting economic activity. Expectations of declining readings will have a negative impact on the movement of the Aussie dollar in the market.
US Manufacturing PMI Data ISM Survey (Wednesday 10.00pm): Manufacturing sector survey data in the United States is forecast to decline slightly but remain at a stable level. The Delta variant’s Covid-19 wave that hit is seen to hamper US economic recovery plans.
US NFP Jobs Data Report (Friday 8.30pm): Back in the spotlight at the beginning of the month, the US jobs report is set to rock the market over the weekend. Employment growth is forecast to decline in August after a surge in the previous month with the unemployment rate expected to decline.
US Services PMI Data ISM Survey (Friday 10.00pm): After the manufacturing sector, the outlook on the US services sector will also be given attention. The latest reading is also projected to decline but is still at a stable level.
