Here are some of the important economic data that will be the focus of the market throughout this week.
Central Bank of Australia Policy Meeting (Tuesday 12.30 PM): The Reserve Bank of Australia (RBA) is expected to continue to increase interest rates. The expected rate will be increased by 50 basis points from 1.85% to 2.35%.
US Manufacturing PMI Data ISM Survey (Tuesday 10.00 PM): Survey data for manufacturing sector readings in the United States will be watched by investors to assess the current health of the economy after the focus on employment data last week.
Bank of Canada Policy Meeting (Wednesday 10:00 PM): The Bank of Canada (BOC) is expected to be more aggressive in their monetary policy tightening. Interest rates are likely to be increased by 75 basis points from 2.50% to 3.25%.
European Central Bank Policy Meeting (Thursday 8.15 PM): After hawkish signals by policymakers, the European Central Bank (ECB) is seen to be more aggressive in their interest rate hikes after the first rate hike for over a decade at the previous meeting. The ECB is also expected to raise rates by 75 basis points, from 0.50% to 1.25%.
Canadian Employment Data Report (Friday 8:30 PM): After the economy lost 30,600 jobs in July, Canada is expected to post a rebound of around 15,000 job gains for August. However, the unemployment rate is likely to increase from 4.9% to 5.0%.
