The following are some of the important economic data that will be the focus of the market throughout the week.
New Zealand Inflation Data (Monday 6.45am): Readings for New Zealand consumer price index data published at this week’s opening Asian session show New Zealand’s inflation rate for the second quarter of 2022 soared to a 32 -year high. This will continue to support policy tightening measures by the Reserve Bank of New Zealand (RBNZ).
UK Employment Data Report (Tuesday 4.30pm): The Bank of England (BOE) will examine the UK labor sector through a report to be published this week which is likely to influence the outcome of a policy meeting in early August.
UK Inflation Data (Wednesday 2.00pm): Also to be the focus of the BOE is the annual reading of the UK consumer price index for June with the market’s initial expectation of a steady increase in figures to further surpass the 40 -year record high inflation.
Canadian Inflation Data (Wednesday 8.30pm): Inflation rates in Canada are expected to rise as well on the latest consumer price index readings. The Bank of Canada (BOC) last week rocked the market with an aggressive interest rate hike of 100 basis points.
European Central Bank Policy Meeting (Thursday 8.15pm): Investors await the outcome of a policy meeting by the European Central Bank (ECB) after several signals for the first interest rate hike in more than a decade by President Christine Lagarde.
European Manufacturing & Services PMI data (Friday 3.30pm): Readings for the focus economic sector data in Europe will be the focus for investors to assess the current state of health for the European economy particularly in Germany. The latest reading for July is expected to decline slightly.
UK Manufacturing & Services PMI data (Friday 4.30pm): Data readings for the manufacturing and services sector in the UK are expected to be dismal, but remain stable.
US Manufacturing & Services PMI data (Friday 9.45pm): A key economic sector in the United States is expected to decline slightly with several factors putting pressure on the world’s largest economy. Recent data readings are predicted to decline slightly.
