The following are some of the important economic data that will be the focus of the market throughout the week.
Australian Central Bank Policy Meeting (Tuesday 12.30pm): Investors await the outcome of a policy meeting by the Reserve Bank of Australia (RBA) in anticipation of another 50 basis point interest rate hike this time around after doing so at the last meeting.
US Manufacturing PMI Data ISM Survey (Wednesday 10.00pm): After last week's manufacturing data survey, the market will look at the US services data survey to gauge the current health of the world's largest economy in key sectors.
FOMC Meeting Minutes (Thursday 2.00 AM): The Federal Reserve (Fed) has continued its aggressive interest rate hike measures in an effort to curb high inflation. Investors will be scrutinizing further details in the minutes of the FOMC meeting for indications of central bank monetary policy.
US ADP Employment Data Report (Thursday 8.15pm): Changes in job growth for the private sector in the United States could serve as an indication for the NFP data report over the weekend.
US NFP Employment Data Report (Friday 8.30pm): Being the focus at the beginning of each month, employment data in the US will have an impact on market movements especially for the US dollar. Reports for the labor sector are also monitored by central banks in setting their monetary policy.
Canadian Employment Data Report (Friday 8.30pm): Published alongside NFP data, job growth in Canada for June is expected to decline slightly and will have a negative impact on the Canadian dollar this weekend.
