Here are some of the important economic data that will be the focus of the market throughout this week.
European Manufacturing & Services PMI data (Tuesday 5.00 PM): Current economic health will be gauged through this key sector with concern readings are still at levels indicating contraction.
UK Manufacturing & Services PMI data (Tuesday 5.30pm): Readings that have been below the 50.0 level for the past few months remain a risk to the current economy in the UK.
Canadian Inflation Data (Tuesday 9.30 PM): Will provide an indication for the monetary policy setting of the Bank of Canada (BOC), the latest inflation rate in Canada will be observed after showing a declining pattern, but still at a high level at 6.3%.
US Manufacturing & Services PMI data (Tuesday 10.45 PM): These two important US sectors have recorded readings below the 50.0 point level for 4 consecutive months showing risks at the current level of the American economy. The latest reading is also expected to remain gloomy.
Central Bank of New Zealand Policy Meeting (Wednesday 9.00 AM): The Reserve Bank of New Zealand (RBNZ) is expected to increase interest rates by 50 basis points from 4.25% to 4.75%. The central bank's follow-up statement will be closely watched by investors for further monetary policy cues that could impact the NZD currency.
FOMC Meeting Minutes (Thursday 3.00 AM): Further details at the latest FOMC meeting will be scrutinized by investors following the dovish signal displayed by the Federal Reserve (Fed) after interest rate hikes were slowed to 25 basis points.
US Economic Growth Data (Thursday 9.30 PM): The second reading of gross domestic product data for America for the last quarter of 2022 will be assessed. In general, there is no change in the reading figures expected by the market from the initial reading.
