8 Important Economic Data News Market Focus This Week (November 20-24, 2023)


 Here are some of the important economic data that will be the focus of the market throughout this week.

RBA Meeting Minutes (Tuesday 8.30am): Markets will be looking at details of the minutes after Australia's central bank raised interest rates on the outcome of the latest policy meeting. The Australian dollar has weakened after the event.

Canadian Inflation Data (Tuesday 9.30pm): Monthly inflation readings in Canada are forecast to increase 0.2% in October to recover from a 0.1% contraction the previous month.

FOMC Meeting Minutes (Wednesday 3.00 AM): Focused this week will be the FOMC meeting minutes report for investors to examine for any additional clues regarding the Federal Reserve's monetary policy. With the latest data published, the majority of the market now expects no interest rate hike at the December meeting.

US Consumer Confidence Data (Wednesday 11.00 PM): Updated University of Michigan survey data for consumer confidence in America is seen to have an impact on prices. The US dollar has the potential to strengthen following the forecast of increased numbers.

European Manufacturing & Services PMI data (Thursday 5.00 PM): An overview of key sectors will give an indication of the current health of the European economy. In focus is the release of data in Germany as the largest economy in Europe.

UK Manufacturing & Services PMI data (Thursday 5.30pm): Little change is expected in the latest UK data reading, but the latest figures are forecast to be more positive for November.

Ifo German Business Survey Data (Friday 5.00 PM): Will influence the movement of the Euro at the end of the week, the ifo survey of the business climate in Germany will be scrutinized. This data is also an indicator of economic activity including spending, job offers and future investments.

US Manufacturing & Services PMI data (Friday 10.45 PM): This survey data of the American economic sector will close the trade for the week. The published figures for November are not very encouraging, but the significant difference in the latest reading could have an impact on the movement in the last session.