The following are some of the important economic data that will be the focus of the market throughout the week.
Australian GDP data (Wednesday 9.30am): Economic growth in Australia will send a negative signal with expected Gross Domestic Product (GDP) data readings for the first quarter to decline lower.
Central Bank of Canada Policy Meeting (Wednesday 10.00pm): Like other central banks, the Bank of Canada (BOC) will continue its policy tightening measures with the forecast of an aggressive rate hike of 50 basis points continued again this time.
US Manufacturing PMI Data ISM Survey (Wednesday 10.00pm): The outlook for the manufacturing sector in the United States (US) will give an indication of the current health of the world’s largest economy. The readings of the published data will affect the movement of the US dollar in the market.
US NFP ADP Jobs Report (Thursday 8.15pm): Will give an early signal on the NFP jobs report, employment data report for the private sector in the US assessed. The market expects the figure for May to rise slightly after experiencing a decline on previous readings.
US NFP Jobs Report (Friday 8.30pm): After the reading in April was successfully maintained from the expected decline, but in the report for this May, the increase in employment in the US is forecast to experience a decline. However, the unemployment rate is expected to decline and the average income is projected to be stable.
