Here are some of the important economic data that will be the focus of the market throughout this week.
Bank of Japan Policy Meeting (Tuesday): The Bank of Japan (BOJ) is still expected to maintain loose monetary policy, not following in the footsteps of other major central banks in the past week which continued to raise interest rates.
Canadian Inflation Data (Wednesday 9.30pm): Canadian consumer price index data for November is expected to show a deeper contraction, likely prompting the central bank to continue tightening monetary policy.
US Consumer Confidence Data (Wednesday 11.00 PM): Investors will also examine the level of consumer confidence in America through spending to assess the current health of the economy. The published data will affect the movement of the US dollar currency.
UK Economic Growth Data (Thursday 3.00pm): The final reading for gross domestic product (GDP) data in the UK for the third quarter will be watched. No change is expected from the previous reading which recorded a contraction to -0.2%.
US Economic Growth Data (Thursday 9.30 PM): The final reading for GDP in the US for the third quarter is projected to be unchanged compared to the previous reading which recorded an expansion of 2.9%.
Canadian Economic Growth Data (Friday 9.30 PM): As the reading of inflation data is forecast to be gloomy, economic growth in Canada is also expected to slow down in the October reading.
