January 3, 2022

6 Important Economic Data News Market Focus This Week (3-7 January 2022)

 Here are some of the important economic data that will be the focus of the market throughout the week.

US Manufacturing PMI Data ISM Survey (Tuesday 11.00pm): The US economic sector is likely to come under pressure by the spread of the Omicron coronavirus variant. The U.S. manufacturing sector is expected to post slightly declining readings for the latest survey.

US ADP NFP Employment Data Report (Wednesday 9.15pm): The increase in employment in the US for the private sector for December 2021 is forecast to decline lower than the previous month. Investors will evaluate as an early signal for the issuance of the NFP employment report over the weekend.

FOMC Meeting Minutes (Thursday 3.00am): Investors will scrutinize further details in the minutes of the last FOMC meeting after the Federal Reserve (Fed) announced measures to speed up tapering or reduction of bond purchases. Investors also want to keep an eye on indicators for interest rate hikes that are expected to accelerate.

US Services PMI Data ISM Survey (Thursday 11.00pm): Readings for survey data for the services sector in the US are also expected to decline for December due to the risk of Omicron coronavirus transmission.

US NFP Employment Data Report (Friday 9.30pm): After recording weak job growth in November, the US economy is expected to rebound for job gains in December. The unemployment rate is also forecast to decline, signaling a recovery of the labor sector in the US.

Canadian Employment Data Report (Friday 9.30pm): The labor sector is forecast to decline in Canada with a low job growth of around 24,500 only expected in December compared to 153,700 in November. The unemployment rate is expected to remain unchanged.