October 4, 2021

6 Important Economic Data News Market Focus This Week (4-8 Oct 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 11.30am): Investors will pay close attention to the outcome of the Reserve Bank of Australia (RBA) meeting this week after signaling to postpone the bond purchase reduction plan at an earlier meeting.

US Services PMI Data ISM Survey (Tuesday 10.00pm): The services sector in the United States is expected to record a contractionary reading, but remains at a stable level. Differences in published reading figures versus expectations could have a significant impact on the movement of the US dollar.

New Zealand Central Bank Policy Meeting (Wednesday 9.00am): The New Zealand dollar will receive a positive impact in early trading this week following expectations for the Reserve Bank of New Zealand (RBNZ) to raise interest rates at its October policy meeting.

ADP NFP Employment Data Report (Wednesday 8.15pm): US private sector employment is expected to record an increase for September compared to the previous month. The rising reading will be an early indication for investors for a positive US NFP report over the weekend.

NFP Employment Data Report (Friday 8.30pm): After a sharp drop in job growth for last August, the latest reading for September is expected to recover slightly and the unemployment rate in the US is also forecast to decline.

Canadian Employment Data Report (Friday 8.30pm): While the unemployment rate in Canada is expected to decline, job growth for September is projected to record a weaker reading than the previous month’s report.