Here are some of the important economic data that will be the focus of the market throughout this week.
US Manufacturing PMI Data ISM Survey (Monday 10.00 PM): The manufacturing sector in the United States is still below the contractionary figure. The latest survey reading for March is also expected to remain gloomy.
Central Bank of Australia Policy Meeting (Tuesday 12.30pm): The Reserve Bank of Australia (RBA) is expected to maintain interest rate hikes of another 25 basis points this week after starting to slow down aggressive rate hikes since October last year.
Central Bank of New Zealand Policy Meeting (Wednesday 10.00 AM): The market expects the Reserve Bank of New Zealand (RBNZ) to start slowing interest rate hikes to 25 basis points for this latest meeting, after still maintaining aggressive hikes until the last meeting in February.
US ADP Employment Data (Wednesday 8.15pm): Coming as an early lead for the NFP jobs report at the end of the week, the market will assess the growth in employment for the private sector in the US for March. The forecast figure is lower than the previous month.
US Services PMI Data ISM Survey (Wednesday 10.00 PM): After the manufacturing sector was observed at the beginning of the week, the outlook for the service sector in the US will be in focus. Readings are forecast to remain as good as recent months.
Canadian Employment Data (Thursday 8.30pm): Employment growth in Canada in March is projected to be lower than the previous month while the unemployment rate is expected to rise. Negative data components will put pressure on the movement of the Canadian dollar currency in the market.
US NFP Employment Data (Friday 8.30 PM): Taking center stage at the close of trade this week, the US NFP data report is important to cast a shadow on the Federal Reserve's (Fed) monetary policy-setting decision. Expectations are high that the Fed will slow policy after the banking crisis hit.
