Here are some of the important economic data that will be the focus of the market throughout this week.
UK Employment Data (Tuesday 3.00 PM): Several key components of the UK employment data report will be under scrutiny this week after the central bank of England (BOE) at its policy meeting last week signaled a halt to policy tightening.
US Inflation Data (Tuesday 9.30 PM): The critical indicator for the US and also the global market is the US inflation rate which will show the direction for monetary policy by the Federal Reserve hereafter. If the decline in inflation continues, the market will expect monetary policy to be more accommodative.
UK Inflation Data (Wednesday 3.00 PM): Inflation rates will also be scrutinized by the BOE in assessing the current health of the economy through consumer price readings before the next monetary policy setting.
US Retail Sales Data (Wednesday 9.30 PM): The rate of retail sales in America is forecast to record a positive increase for January compared to the previous month's dismal figures. A positive reading will support the US dollar currency.
Australian Employment Data (Thursday 8.30am): The Australian economy is expected to register an increase of around 20,000 jobs for January after losing 14,600 jobs at the end of 2022. The unemployment rate is predicted to remain at 3.5%.
US PPI data (Thursday 9.30 PM): The US producer price index data reading will influence the figure on the consumer reading. Expectations on the latest monthly figures are more positive with an increase than the previous decrease.
