Here are some of the important economic data that will be the focus of the market throughout this week.
UK Gross Domestic Product Data (Monday 2.00pm): The monthly reading of UK economic growth for July was the focus of the European session earlier in the week with expectations of a positive figure compared to the contraction in the previous month's reading.
UK Employment Data Report (Tuesday 2.00 PM): The UK labor sector will be assessed through a component of employment data to be published this week which could influence monetary policy decisions by the central bank. This week's central bank of England policy meeting was postponed until next week following the death of Queen Elizabeth.
European Economic Sentiment ZEW Survey (Tuesday 5.00 PM): Will affect the movement of the Euro currency, the ZEW survey data will provide an overview of the current health of the European economy which is currently still struggling with the protracted energy crisis.
US Inflation Data (Tuesday 8.30 PM): Consumer price index data readings in America are expected to record a decline following aggressive policy tightening measures by the Federal Reserve (Fed) maintained. The FOMC meeting next week will be the focus of the market.
UK Inflation Data (Wednesday 2.00pm): UK annual inflation is forecast to remain at a 40-year high for the latest reading. Therefore, the market expects the Bank of England (BOE) to be more aggressive in raising interest rates at the postponed policy meeting next week.
US Producer Price Index Data (Wednesday 8.30pm): US PPI data follows the release of inflation data with forecast figures slightly recovering from previous readings.
Australian Employment Data Report (Thursday 9.30am): After the economy lost around 40,000 jobs in July, August job gains in Australia are forecast to pick up again to 35,500. Meanwhile, the unemployment rate is expected to remain at 3.4%.
US Retail Sales Data (Thursday 8.30pm): Retail sales rates in America will be monitored for an assessment of consumer spending in the world's largest economy. A declining reading will put pressure on the movement of the US dollar at the end of the week.
