Here are some of the important economic data that will be the focus of the market throughout this week.
RBA Meeting Minutes (Tuesday 9.30am): Details of the meeting minutes will be scrutinized by markets after Australia's central bank decided to keep interest rates unchanged at its latest meeting. The Australian dollar suffered losses after the meeting but recovered until last week.
Canadian Inflation Data (Tuesday 8.30 PM): Canada's inflation rate is forecast to decrease for August which will prompt the central bank to slow down the policy tightening that has been implemented before. This situation will affect the movement of the Canadian dollar in the market.
UK Inflation Data (Wednesday 2.00 PM): After the market saw employment data and UK economic growth last week, this time the inflation data will be an important indicator to watch ahead of the central bank meeting.
FOMC Meeting (Thursday 2.00 AM): Being the main focus event of the week, the American central bank's policy meeting will drive the direction of the next market movement. Interest rates are predicted to remain at 5.50% but investors are not surprised if there are any surprises.
SNB Policy Meeting (Thursday 3.30 PM): The Swiss National Bank is expected to be more aggressive than other central banks to increase interest rates by 25 basis points at the latest meeting. The rate will increase from 1.75% to 2.00%.
BOE Policy Meeting (Thursday 7.00 PM): After the important data observed since last week, the results of the meeting of the central bank of England will be determined this week. Interest rates are expected to be raised to 5.50% from 5.25%.
BOJ Policy Meeting (Friday): The Japanese central bank is expected to maintain interest rates at a low level of -0.10% as before. But the market is awaiting the latest development from Governor Kazuo Ueda after signaling for policy changes since last week.
European Manufacturing & Services PMI data (Friday 4.00 PM): After recording a declining reading last month, the latest reading of European PMI data for September is expected to recover slightly. This also gives an overview of the current economic health in Europe.
UK Manufacturing & Services PMI data (Friday 4.30pm): After last month's data was updated slightly better, but the reading is still below contractionary levels. The latest figure for September is still expected to remain below 50.0 points.
US Manufacturing & Services PMI data (Friday 9.45pm): US PMI readings were mixed for America where the manufacturing sector is forecast to remain weak below the contractionary level, while the services sector is slightly better above the 50.0 point level.
