Here are some of the important economic data that will be the focus of the market throughout this week.
German Business Climate Data ifo Survey (Monday 4.00 PM): The European economy is still under pressure with several current factors being the focus of the market. The outlook for business in Germany, Europe's largest economy, will be monitored earlier this week for an assessment of the bloc's current health.
US Durable Goods Orders Data (Tuesday 8.30pm): Rising factory orders will signal a recovery in the US manufacturing sector. This can also be an early indication of the latest inflation readings.
US Consumer Confidence Data (Tuesday 10:00 PM): The survey data on households in America will provide an overview of consumer spending in the economy to determine the current level of economic health. The latest reading is expected to rise.
Canada's Gross Domestic Product Data (Thursday 8.30pm): The monthly reading for Canada's economic growth last July is predicted to record a declining figure following the central bank's aggressive steps in setting its monetary policy.
US Gross Domestic Product Data (Thursday 8.30pm): US GDP growth for the second quarter is expected to be unchanged from its last reading which was contractionary.
UK Gross Domestic Product Data (Friday 2.00 PM): The final reading for UK economic growth for the second quarter will be scrutinized by investors, but the reading is expected to be unchanged from the initial reading.
European Inflation Data (Friday 5.00 PM): Preliminary readings for annual inflation in Europe will expect an increase in published figures to a new high. This could add pressure to Euro currency trading at the end of the week.
US PCE Index Data (Friday 8.30 PM): Also an indicator for inflation in America, this data that measures consumer personal spending will be monitored. Forecasts for the latest figures to be published have increased again after experiencing a decline in previous readings.
