Here are some of the economic data that will be the focus of the market throughout this week.
US Manufacturing PMI Data ISM Survey (Monday 10.00 PM): The survey of the manufacturing sector in the United States can measure the level of production for the world's largest economy. This can also give an indication of the inflation rate and also the setting of the monetary policy of the Federal Reserve (Fed).
Central Bank of Australia Policy Meeting (Tuesday 11.30 AM): After raising interest rates by 50 basis points at the last meeting, the Reserve Bank of Australia (RBA) is expected to continue the increase at the same rate to 2.85% for the October policy meeting.
New Zealand Central Bank Policy Meeting (Wednesday 9.00 AM): The Reserve Bank of New Zealand (RBNZ) is also expected to raise interest rates by 50 basis points for the fifth time in a row and will reach a new high of 3.50%.
ADP NFP Employment Data (Wednesday 8.15pm): Private sector job growth in America is forecast to be positive to increase to 200,000 in September. A healthy labor sector will encourage the Fed to continue their policy tightening plan.
US Services PMI data ISM Survey (Wednesday 10.00 PM): The non-manufacturing sector in the United States will also be a focus for investors to assess the current health of the economy. A decrease in reading data can have a depreciating effect on the US dollar currency.
Canadian Employment Data Report (Friday 8.30 PM): After losing 39,700 jobs last August, the Canadian economy is expected to record an increase of around 22,500 jobs in September. While the unemployment rate is predicted to remain at 5.4%.
US NFP Employment Data Report (Friday 8.30 PM): US employment growth in September which is expected to be lower than in August could have a negative impact on the movement of the US dollar at the close of trading this week. The average income and unemployment rate are not expected to change in the latest figures.
