Here are some of the important economic data that will be the focus of the market throughout this week.
Canadian Inflation Data (Tuesday 8.30pm): Canada's central bank recently surprised markets by not raising interest rates after signaling to do so earlier. Now the rate of inflation in Canada will be monitored for the central bank to determine the direction of the next monetary policy.
UK Inflation Data (Wednesday 3.00pm): Ahead of this week's policy meeting, the UK inflation rate will be in early focus. It is a challenge for policy makers when the inflation level in the UK still remains at a high level after rising significantly last year.
FOMC Meeting (Thursday 2.00 AM): Investors' puzzle will be answered this week for policy setting by the Federal Reserve. With the banking crisis hitting, how will the interest rate increase be implemented at this meeting?
Swiss Central Bank Policy Meeting (Thursday 4.30 PM): The Swiss National Bank (SNB) is expected to raise interest rates by 50 basis points at the latest meeting. But are those expectations still relevant after the current crisis that hit the market?
Bank of England Policy Meeting (Thursday 8.00pm): Markets expect interest rate hikes by the BOE to be slower, at a 25 basis point increase for the latest meeting. Any hawkish remarks by policymakers will support the Pound to continue strengthening this week.
European Manufacturing & Services PMI data (Friday 5.00 PM): A reading that remains hovering below 50.0 points will give an impression of the still bleak economic health in Europe.
UK Manufacturing & Services PMI data (Friday 530 PM): The reading of this important sector in the UK is expected to remain above the 50.0 point level indicating that economic activity is still developing well.
US Manufacturing & Services PMI data (Friday 9.45pm): No major changes are expected in this latest reading of economic activity in the United States. The service sector is predicted to be better than the manufacturing sector which is still contracting.
