The following are some of the important economic data that will be the focus of the market throughout the week.
UK Employment Data Report (Tuesday 3.00pm): Investors will examine the labor sector in the UK based on a component of data published earlier in the week. Average income is expected to increase and the unemployment rate is expected to decline.
US Producer Price Index Data (Tuesday 8.30pm): The data reading, which also gives an indication of inflation in the United States (US), will be the focus with the reading expected to remain for February.
US Retail Sales Data (Wednesday 8.30pm): It is likely to put pressure on the US dollar following a drop in the forecast figure for the US retail sales rate for February while investors are cautious ahead of the outcome of the US central bank meeting.
FOMC Meeting (Thursday 2.00 AM): The Federal Reserve (Fed) has been expected to raise interest rates at its March edition policy meeting this time after giving clearer indications recently. The outcome of the meeting will affect the drastic movement of prices, especially on the US dollar.
Australian Employment Data Report (Thursday 8.30am): Investors are optimistic about the forecast for the employment sector in Australia for February. The increase in employment is expected to record a higher increase while the unemployment rate is forecast to decline slightly.
Bank of England Policy Meeting (Thursday 8.00pm): Also a major focus for the market calendar this week, the Bank of England (BOE) is expected to raise interest rates from 0.50% to 0.75%. The central bank's follow -up statement on monetary policy will be heeded and will drive the movement of the Pound.
Japan Central Bank Policy Meeting (Friday, Asian Session): Focus on the weekend, the Bank of Japan (BOJ) is expected to continue to keep low interest rates unchanged at -0.10%. However, the guidance given by the central bank on further monetary policy will affect Yen trading.
