Here are some of the important economic data that will be the focus of the market throughout this week.
RBA Meeting Minutes (Tuesday 8.30am): The market will examine further details of the minutes after the meeting of the central bank of Australia (RBA) which is seen to be slowing down policy tightening previously. Interest rate hikes are starting to be eased compared to aggressive hikes at previous meetings.
UK Employment Data Report (Tuesday 3.00 PM): The UK labor sector will be monitored by the central bank of England (BOE) in the setting of the next monetary policy. The gloomy reading of the report is expected to affect the pace of policy tightening by the BOE.
US Producer Price Index Data (Tuesday 9.30pm): US PPI data will be focused on by investors which could be an early signal to consumer spending. The reading for October is predicted to increase slightly compared to the previous month.
UK Inflation Data (Wednesday 3.00 PM): Continuing to be a concern in the UK, the inflation rate remains at a 40-year high. Forecasts of inflation that will rise higher in October will continue to burden the central bank in setting monetary policy.
Canadian Inflation Data (Wednesday 9.30pm): The central bank of Canada (BOC) is also seen starting to slow down its previous policy tightening, but the results may differ from inflation expectations for a soaring October.
US Retail Sales Data (Wednesday 9.30pm): The rate of sales in America is forecast to grow well in October although the inflation rate in data readings published last week showed a decline. A rising reading will support the rising value of the US dollar.
Australian Employment Data Report (Thursday 8.30am): Employment growth in Australia in October is forecast to be slightly higher than in September. However, what will increase the pressure on the RBA for policy setting is the expected unemployment rate to continue to rise.
