The following are some of the important economic data that will be the focus of the market throughout the week.
US Durable Goods Orders Data (Monday 8.30pm): Investors will be wary of the release of US economic data earlier this week with inflationary pressures expecting a weak reading of the numbers could be the driver of the price movement heading into the weekend for the US dollar.
US Consumer Confidence Data (Tuesday 10.00pm): This household survey data in the United States measures the level of consumer finance for an assessment of the current economic activity situation that will also affect the movement of the US dollar.
US Gross Domestic Product Data (Wednesday 8.30pm): The final reading for US economic growth for the first quarter remains forecast little change after contracting to -1.5% on the previous reading.
UK Gross Domestic Product Data (Thursday 2.00pm): After the results of the central bank policy meeting as well as inflation data became the focus in previous weeks, investors will focus on UK economic growth data through the final GDP readings for the first quarter published this week.
US Consumer Personal Spending Index (Thursday 8.30pm): Also giving an indication of inflation in the US, consumer personal spending will also be given attention by the central bank in setting their monetary policy. An increase in the reading could also lead to a strengthening of the US dollar.
US Manufacturing PMI Data ISM Survey (Friday 10.00pm): An increase in the previous month’s reading indicates manufacturing activity in the US was good after the published figures exceeded expectations, but will the latest reading be able to maintain that positive momentum?
