12 Important Economic Data Market Focus This Week (March 18-22, 2024)


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

TUESDAY (March 19, 2024):

BOJ Policy Meeting (Asia Session) – Japan's central bank is expected to keep interest rates unchanged at -0.10%. What is more in focus is the indication from the governor regarding the new monetary policy transition.

RBA Policy Meeting (11.30am) – Interest rates are also expected to remain unchanged in Australia with a follow-up speech after the central bank's policy meeting to be watched by investors.

Canadian Inflation Data (8.30 PM) – There is expected to be an increase in monthly inflation in Canada for February and this could influence the decision of the central bank of Canada in setting their monetary policy further.

WEDNESDAY (March 20, 2024):

UK Inflation Data (3.00 PM) – Increasingly challenging the central bank to balance economic stability in the UK, the latest inflation rate is forecast to fall to the lowest level since 2021. Markets will be interested to hear the central bank's view based on this important indicator.

THURSDAY (March 21, 2024):

FOMC Meeting (2.00 AM) – Being the most awaited event of the week, the outcome of the FOMC meeting could change the landscape of the market's current movement. Interest rates are still expected to remain at 5.50%, but investors are waiting for clearer indications from Chairman Jerome Powell regarding interest rate cuts.

Australian Employment Data (8.30am) – Australia is forecast to record more positive employment growth in February with the unemployment rate also forecast to decline.

SNB Policy Meeting (4.30 PM) – The Swiss National Bank, like other central banks, is also expected to maintain the existing policy with interest rates at 1.75%. A follow-up speech by the governor will be an important signal of the central bank's policy direction.

German Manufacturing & Services PMI data (4.30pm) – Current developments in the health of the European economy will be gauged through the latest readings on this key sector. Reading figures for March are forecast to be slightly better than the previous month.

UK Manufacturing & Services PMI data (5.30pm) – An improvement in the latest reading is needed to signal the health of the UK economy remains under control.

BOE Policy Meeting (8.00 PM) – The Bank of England will keep interest rates at 5.25% as before. However, will there be an important indication of the central bank's monetary policy after this?

US Manufacturing & Services PMI data (9.45 PM) – The market is predicting slightly bleak data readings on these sectors in America for March. Investors will continue to watch and be alert for early signs of an economic downturn.

FRIDAY (March 22, 2024):

UK Retail Sales Data (3.00 PM) – Retail sales rates for the monthly reading in the UK are expected to decline with a negative figure for February. This is in contrast to the previous month's situation which had recorded a strong surge over forecasts.