5 Important Economic Data News Market Focus This Week (6-9 Sept 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): Investors are awaiting whether measures to reduce asset purchases (tapering) by the Reserve Bank of Australia (RBA) will be decided at the September meeting. A hawkish -toned statement by the central bank will support the strengthening of the Aussie dollar.

German Economic Sentiment ZEW Review (Tuesday 5.00pm): Being the largest economy in Europe, the health of the German economy will be surveyed which will give an early indication of the health of the European economy in the future. Expectations of the latest declining data readings will bring pressure on the Euro currency.

Central Bank of Canada Policy Meeting (Wednesday 10.00am): The outcome of the latest policy meeting by the Bank of Canada (BOC) will be of concern after the BOC previously continued to reduce asset purchases (tapering) to be among the first central banks to tighten policy after the pandemic hit. Interest rates are expected to remain maintained while the Canadian economic outlook will also be the focus.

European Central Bank Policy Meeting (Thursday 7.45pm): The Euro currency is expected to continue to experience difficulties in the market as the European Central Bank (ECB) is still seen to continue policy easing in an effort to support the European economy. Interest rates are forecast to remain at 0.0% unchanged.

Canadian Employment Data Report (Friday 8.30pm): After the US NFP employment report last week, this week the focus is on the Canadian employment data report. The increase in jobs that fell below the 100,000 level in July is expected to rise even higher for the August record. The unemployment rate showed a good downward trend to 7.5% at the July reading.

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