Here are some of the important economic data that will be the focus of the market throughout the week.
Australian Central Bank Policy Meeting (Tuesday 11.30am): The market still expects interest rates to be maintained by the Reserve Bank of Australia (RBA) for the latest meeting. However, the central bank statement will signal for further monetary policy indications.
German Economic Sentiment ZEW Review (Tuesday 6.00pm): There will be adding pressure on Euro trading this week as European economic outlook data, especially in Germany, is forecast to decline again.
Central Bank of Canada Policy Meeting (Wednesday 11.00pm): Interest rates are expected to remain at 0.25% by the Bank of Canada (BOC) for the December edition of monetary policy meeting. Investors are still waiting for a signal by the central bank for policy tightening which is now likely to be constrained by concerns of the spread of the latest coronavirus variant.
UK Gross Domestic Product Data (Friday 3.00pm): Monthly economic growth readings in the UK by measuring GDP data readings as well as some jointly published economic data are expected to decline slightly for November. Large differences in the previous month’s figure readings could have a significant impact on the movement of the Pound.
US Inflation Data (Friday 11.00pm): After rising in October, the US inflation reading is expected to decline again in November. This Federal Reserve (Fed) focus data will also be assessed to impact the policy tightening plans discussed earlier.
