Here are some of the important economic data that will be the focus of the market throughout this week.
UK Employment Data (Tuesday 2.00 PM): In what will be a new indication by the central bank of England (BOE) in the setting of the latest monetary policy, the employment data report for March will be scrutinized. A gloomy reading will put pressure on the movement of the Pound currency in the market.
Canadian Inflation Data (Tuesday 8.30pm): The central bank of Canada (BOC) left interest rates unchanged for the second time as it looks to have begun to wind down policy tightening this year. Canada's latest inflation reading will be judged on whether it can change the central bank's stance heading into its next policy meeting.
UK Inflation Data (Wednesday 2.00 PM): Apart from the labor sector, the main focus for the BOE is the release of UK consumer price index data this week. The central bank's biggest challenge is to lower the inflation rate which is still at a worrying level.
European Manufacturing & Services PMI data (Friday 4.00 PM): If the growth reading of this important sector in Europe remains below the 50.0 point level, pressure will increase for Euro currency trading at the end of the week.
UK Manufacturing & Services PMI data (Friday 4.30pm): The reading for the manufacturing sector in the UK is forecast to increase slightly, but is still below the stable level of 50.0 points. While the reading of the service sector is expected to remain the same as the reading of the previous month.
US Manufacturing & Services PMI data (Friday 9.45 PM): If examined, the readings of these two sectors were good last March, but will they be able to record satisfactory figures in April as well? Gloomier figures could have a negative impact on the US dollar at the close of trading this week.
