Here are some of the important economic data that will be the focus of the market throughout this week.
New Zealand Inflation Data (Tuesday 5.45am): New Zealand's consumer price index for the third quarter reading will be focused on assessing the impact of previous policy tightening by the Reserve Bank of New Zealand (RBNZ). The latest expected inflation rate dropped from 1.7% to 1.5%.
Australian Central Bank Meeting Minutes (Tuesday 8.30am): Details of the Reserve Bank of Australia (RBA) meeting minutes will be scrutinized by investors after a slower interest rate hike than previously expected by the market. Any more dovish indication would have a bearish effect on the Australian dollar.
China's GDP data (Tuesday 10.00 AM): The growth of the world's second largest economy could have an impact on the current market sentiment change. The latest data is predicted to increase even though China is still struggling to deal with the coronavirus crisis.
European Economic Sentiment Data ZEW Survey (Tuesday 5.00 PM): With various factors still weighing on Europe such as the lingering energy crisis, the latest survey data reading remains forecast to decline. Focus is directed at the survey on Germany as the largest economy in Europe.
UK Inflation Data (Wednesday 2.00 PM): The annual inflation reading in the UK will provide an assessment of the monetary policy currently being applied by the Bank of England (BOE). The market is still monitoring the development of policy implementation by the central bank and the government which is seen to be out of sync.
Canadian Inflation Data (Wednesday 8.30pm): The consumer price index in Canada is forecast to come in at 0.0% for the September reading, up from the previous reading of 0.3%. This latest reading will be evaluated by the Bank of Canada (BOC) which is one of the central banks that is aggressive in tightening its policy.
Australian Employment Data (Thursday 8.30am): Employment growth in Australia for September is expected to be lower than the previous month. Meanwhile, the unemployment rate is predicted to remain at 3.5%.
