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): Following a hawkish statement by the central bank of England at its latest policy meeting, the UK employment data report will be the focus to provide clues on the direction of policy -making by banks in the future. Data readings last June have shown the economy lost around 114,000 jobs recorded.
US Retail Sales Data (Tuesday 8.30pm): Expectations for a declining US retail sales rate for July will add to the pressure on the US dollar which has depreciated in last weekend's trade.
New Zealand Central Bank Policy Meeting (Wednesday 10.00am): Investors await the outcome of a monetary policy meeting by the Reserve Bank of New Zealand (RBNZ) which is expected to raise interest rates to 0.50% again after keeping the rate at 0.25% for so long. The central bank’s hawkish -toned comments will propel the Kiwi dollar to stronger levels.
US Inflation Data (Wednesday 2.00pm): The UK annual inflation data reading to be published this week is projected to decline slightly to 2.3% after the previous reading recorded a jump to a nearly 3 -year high to 2.5%.
FOMC Meeting Minutes (Thursday 2.00am): Investors will scrutinize the details of the minutes of the FOMC meeting held in late July that saw the US dollar depreciate after a dovish statement by Fed Chairman Jerome Powell on bond buying cuts.
Australian Jobs Data Report (Thursday 9.30am): Putting pressure on the Aussie dollar over the weekend, the Australian economy is expected to lose 46,000 jobs for July while the unemployment rate is also forecast to rise to 5.0% from 4.9% previously following the Covid-19 wave. the latest.
