Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (November 26, 2024)
US Consumer Confidence Data (11.00 PM) – This data, which measures the outlook for households in the US, provides a strong picture of financial confidence and consumer spending. The reading for November is expected to be positive to beat the previous month's figures.
WEDNESDAY (November 27, 2024)
Australian Inflation Data (8.30 AM) – Likely to change the current stance of the Australian central bank, the consumer price index for October is forecast to rebound to 2.5% after falling to 2.1% in September.
RBNZ Policy Meeting (9.00 AM) – At its October meeting, the New Zealand central bank chose to act aggressively in its monetary policy easing measures by cutting the interest rate by 50 basis points from 5.25% to 4.75%. For the November meeting, similar action is expected for the interest rate to be cut further to 4.25%.
US GDP Data (9.30 PM) – The reading on US economic growth in the third quarter will be assessed for the second report release with the figure expected to remain at 2.8%.
US PCE Price Index (11.00 PM) – As one of the central bank’s focus inflation components, this data measuring personal consumer spending in the US will have an impact on the US dollar.
THURSDAY (November 28, 2024)
FOMC Minutes (3.00 AM) – Markets will be looking for more details in the minutes to be published after the meeting in early November saw the FOMC members agree to cut interest rates by 25 basis points.
German Inflation Data (European Session) – As the largest economy in Europe, data released by Germany is in the spotlight. The German inflation report is expected to be less encouraging for November.
FRIDAY (November 29, 2024)
Canadian GDP Data (9.30 PM) – Canada's monthly economic growth is forecast to be good for September with expectations of an increase to 0.3% from the zero level recorded in the previous reading.
