Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (March 26, 2024):
US Consumer Confidence Data (10:00 PM) – The US household survey data will assess the level of financial confidence which can be an indicator of spending and overall economic activity. The latest reading for the month of March is predicted to show no major changes to the previous month's figures.
WEDNESDAY (March 27, 2024):
Australian Inflation Data (8.30pm) - Will be the 'compass' in the direction of policy-making by Australia's central bank, this latest consumer price index data reading will be watched. The market will expect an increase in the February inflation rate.
THURSDAY (March 28, 2024):
Canadian GDP data (8.30 PM) – The Canadian economy's monthly growth is expected to increase positively for January which indicates that the monetary policy applied is appropriate. This situation can have an increasing effect on the value of the Loonie currency.
US GDP data (8.30 PM) – The latest reading for the US economic growth for the last quarter of 2023 is forecast to remain unchanged at 3.2% as the previous reading. Any change in numbers can have a significant impact on the movement of the US dollar.
US Home Sales Data (10.00 PM) – The housing sector in America should be watched by investors who can contribute a large impact on the current economic health development.
FRIDAY (March 29, 2024):
US PCE Index Data (8.30 PM) – Being one of the components of inflation focused on by the Federal Reserve (Fed), this data that focuses on personal consumer spending will evaluate current inflation that may influence the decision of interest rate changes in the future. The US dollar will receive an impact on the closing trade this week.
