Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY – 28 NOV 2023
US Consumer Confidence Data (11.00 PM): The New York session at the beginning of the week will start to move the US dollar through this American household survey data. Data readings for November are expected to be slightly lower than the previous month.
WEDNESDAY – 29 NOV 2023
Australian Inflation Data (8.30pm): The consumer price index will be an important indicator in the setting of monetary policy. Markets will assess the steps taken by Australia's central bank when the data is published, after the latest interest rate hike was recently implemented.
RBNZ Policy Meeting (9.00am): New Zealand's central bank is expected to keep interest rates unchanged at 5.50% at its latest meeting this week. Follow-up statements by the governor will be scrutinized for further indications of monetary policy direction.
US GDP data (9.30 PM): The second reading for US economic growth in the third quarter will be assessed this week after the initial reading was published last month. The latest figure is forecast to increase from 4.9% to 5.0%. This data is also one of the important indicators that central banks focus on in setting their monetary policy.
THURSDAY – 30 NOV 2023
China's Manufacturing & Services PMI data (9.30 AM): Will affect the current global market sentiment, the data reading of the important sector of the world's second largest economy will be paid attention by investors. Significant changes in published figures compared to forecasts can have a major impact in the market.
US PCE Price Index Data (9.30 PM): One of the components of inflation, the data that measures the personal spending of consumers in America will drive the movement of the US dollar towards the end of the week. Monthly readings are expected to record slower figures for October.
FRIDAY – DEC 1, 2023
Canada Jobs Data (9.30 PM): Based on market forecasts, employment growth in Canada for October was around 18,500 slightly above the previous month's reading of 17,500. Meanwhile, the unemployment rate is expected to remain at 5.7%.
US Manufacturing & Services PMI Data ISM Survey (11.00 PM): Survey data for these two important sectors in America closes the trading focus this week. The US dollar is expected to give a positive reaction in the last session following the forecast of a slightly increased figure.
