Here are some of the important economic data that will be the focus of the market throughout this week.
UK Inflation Data (Wednesday 2.00 PM): Ahead of this week's central bank meeting results, inflation readings in the UK will be watched which are still at high levels before. The latest figures are predicted to decrease slightly after the previous month's reading has started to fall below the 10% level.
SNB Policy Meeting (Thursday 3.30 PM): The Swiss National Bank is expected to raise interest rates by 25 basis points to 1.75%. This situation is seen to have an increasing effect on the value of the Swiss franc (CHF) currency.
BOE Policy Meeting (Thursday 7.00 PM): The Bank of England will raise interest rates by 25 basis points to 4.75%. It is likely that the Pound will perform similarly to the Euro last week.
US Jobless Claims Data (Thursday 8.30pm): The rate of increase in claims for unemployment benefits in America showed an increase in the last 2 weeks. The rising figures will add pressure on the US dollar as the central bank has started to halt interest rate hikes at its latest meeting last week.
European Manufacturing & Services PMI data (Friday 4.00 PM): An assessment of the current health of the economy is gauged through this important sector data. In Europe, data readings in Germany play a big role that could drive the direction of currency movements at the end of the week.
UK Manufacturing & Services PMI data (Friday 4.30pm): The latest data readings for these two sectors in the UK for June are expected to be mixed. However, each is likely to record a lower figure compared to the previous month.
US Manufacturing & Services PMI data (Friday 9.45pm): Little change is expected for June's reading figures for this key sector in America. The US dollar will react if there is a significant change in the published figures.
