Here are some of the important economic data that will be the focus of the market throughout the week.
Minutes of the Australian Central Bank Meeting (Tuesday 8.30am): Investors will scrutinize further details on the minutes of the Reserve Bank of Australia (RBA) meeting that took place over the past 2 weeks. The RBA has kept interest rates unchanged and sees policy easing still an option to support the current economy.
UK Gross Domestic Product Data (Wednesday 3.00pm): The final reading for UK economic growth for the third quarter is expected to be unchanged after being published at 1.3% previously. Changes in the published figures will affect the movement of the Pound.
US Gross Domestic Product Data (Wednesday 9.30pm): The final reading of US economic growth is expected to remain the same as the initial reading after registering a fall to 2.1% from 6.7% in the previous quarter.
Canadian Gross Domestic Product Data (Thursday 9.30pm): The market will expect an increase in the Canadian economic growth figure for November which is projected to rise to 0.8% from 0.1% the previous month. The increase will also support the recovery of the Canadian dollar which was affected by the fall in crude oil prices last week.
US Consumer Personal Spending Data (Thursday 9.30pm): Giving a glimpse of inflation in the United States, this data will focus on spending on targeted consumer personal goods. The reading for November is not expected to show any change like the previous month.
