Here are some of the important economic data that will be the focus of the market throughout this week.
Central Bank of New Zealand Policy Meeting (Wednesday 9.00 AM): The Reserve Bank of New Zealand (RBNZ) is expected to continue its policy tightening measures with an expected increase in interest rates at the last meeting of 2022 by 75 basis points, higher than the 50 basis points at the previous meeting .
European Manufacturing & Services PMI data (Wednesday 5.00 PM): Assessing the current health of the economy in Europe, early readings for key sector growth will be monitored. The service and manufacturing sectors in Europe, especially in Germany, are predicted to experience contraction for November.
UK Manufacturing & Services PMI data (Wednesday 5.30pm): The UK economy is also expected to record a decline in the manufacturing and services sectors with current factors affecting the economy. The Pound currency will come under pressure with the initial reading declining.
US Manufacturing & Services PMI data (Wednesday 10.45 PM): Meanwhile, the market expects the focus sector of the economy in America to still maintain a good reading, but the reading for the service sector is likely to remain below a stable level compared to the reading for the manufacturing sector.
Minutes of the FOMC Meeting (Thursday 3.00 AM): Investors will examine more details in the minutes of the latest FOMC meeting after the Federal Reserve (Fed) decided to continue raising interest rates by 75 basis points for the fourth time in a row.
ECB Meeting Minutes (Thursday 8.30pm): The central bank's statement regarding factors that could affect policy tightening measures will be scrutinized by investors. The European central bank has previously raised interest rates as predicted, but failed to support the strengthening of the Euro in the market.
