Here are some of the important economic data that will be the focus of the market throughout this week.
German Industrial Production (Monday 3.00 PM): Although not the main focus, but the data reading for production in Germany will be monitored by investors to assess the current indicators of the state of Europe's largest economy. The latest reading released for the month of November 2022 is predicted to increase positively.
Australian Inflation Data (Wednesday 8.30am): Will put pressure on Australia's central bank which is moving towards an easing policy, the inflation rate is expected to increase for the latest annual reading to 7.3%
China Inflation Data (Thursday 9.30am): As the second largest economy in the world, the inflation rate in China will be assessed by investors as the country is still facing an increase in Covid-19 infection cases after movement restrictions are slowly eased again.
US Inflation Data (Thursday 9.30 PM): The reading of the US consumer price index for December is forecast to decrease, reflecting the positive effects of the monetary policy implemented by the Federal Reserve (Fed).
UK Economic Growth Data (Friday 3.00pm): There is likely to be pressure on the Pound currency trading at the end of the week as UK economic readings including industrial production are forecast to be gloomy. The UK's monthly GDP figure is expected to drop to -0.3% for November.
US Consumer Confidence Sentiment (Friday 11.00 PM): Preliminary survey data measuring the level of consumer confidence through spending in America is projected to increase slightly. Better figures would give a healthy indication of current activity in the world's largest economy.
