6 Important Economic Data News Market Focus This Week (February 5-9, 2024)


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

MONDAY (February 5, 2024):

US Services PMI ISM Survey (11.00 PM) – After examining the manufacturing sector last week, investors will also be monitoring the survey reading for the service sector in America earlier this week. The latest reading is predicted to increase positively.

TUESDAY (February 6, 2024):

RBA Meeting (11.30am) – Australia's central bank is expected to keep interest rates unchanged at 4.35% for the first meeting of 2024. But the central bank's follow-up statement is important to note after investors observed Australia's weak inflation rate reading last week.

Jan 31, 2024 9:49 PM

New Zealand Employment Report (5.45am) – New Zealand is set to report readings for the labor sector for the fourth quarter of 2023 with an expected increase in numbers. However, the unemployment rate is feared to be quite high.

THURSDAY (February 8, 2024):

China Inflation Data (9.30am) – As the world's second largest economy, China's key data readings can influence global market movements. Forecasts for a drop in the latest inflation rate will make investors wary.

US Jobless Claims Data (9.30pm) – The weekly reading for people out of work in America is looked at to assess the current situation in the labor sector. Expectations for the latest lower figures are good for the economy.

FRIDAY (February 9, 2024):

Canada Jobs Report (9:30 PM) – Total job gains in Canada for January are forecast to increase by 15,000, better than the previous month. While the unemployment rate is likely to rise to 5.9% from 5.8%.