The following are some of the important economic data that will be the focus of the market this week.
Australian Central Bank Policy Meeting (Tuesday 12.30pm): Unlike other central banks, the Reserve Bank of Australia (RBA) is expected to still maintain loose interest rates and monetary policy.
US Services PMI Data ISM Survey (Tuesday 10.00pm): Survey data for the non -manufacturing sector in the United States will be scrutinized by investors to assess the current performance of the economy. The rising reading will support the appreciation of the US dollar.
FOMC Meeting Minutes (Thursday 2.00 AM): Investors will be reviewing the details of the latest FOMC meeting minutes after the Federal Reserve (Fed) has initiated an interest rate hike and is expected to continue for subsequent meetings until the end of the year.
US Unemployment Claims Data (Thursday 8.30pm): It is expected that the figure for last week's claims rate will not change much at the 200,000 level after the rising reading in the previous week. Significant differences in forecast figures will affect the movement of the US dollar over the weekend.
Canadian Employment Data Report (Friday 8.30pm): The increase in jobs in Canada for March is forecast to be lower at 65,500 compared to 336,600 in the previous month’s reading. However, the unemployment rate is forecast to decline to 5.4% from 5.5%.
