Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (June 25, 2024)
Canadian Inflation Data (8.30 PM) – The central bank of Canada at its latest meeting has moved to lower interest rates by 25 basis points. With the latest inflation data expected to decline, the central bank is likely to continue its monetary policy easing measures.
US Consumer Confidence Data (10.00 PM) – Investors will be watching the US household survey report to assess the level of consumer financial confidence which can provide insight into spending and economic activity.
WEDNESDAY (June 26, 2024)
Australian Inflation Data (9.30pm) – Expectations of lower inflation in Australia could prompt the central bank to cut interest rates. The Reserve Bank of Australia (RBA) decided to keep interest rates at its meeting last week.
THURSDAY (June 27, 2024)
US GDP data (8.30 PM) – The market will be looking forward to the final reading on the US economic growth report for the first quarter of 2024. The increased numbers will provide positive sentiment for the US economy.
FRIDAY (June 28, 2024)
Canadian GDP Data (8.30 PM) – Canada's economic growth for April is expected to be better after the previous month's report which recorded no growth at the 0.0% level. The latest forecast is an increase to 0.3%.
US PCE Index Data (8.30 PM) - Will drive the movement of the USD in the last trading session of this week, the data that is part of the inflation component is an important indicator for the Federal Reserve (Fed) in setting their monetary policy.
