Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (January 16, 2024):
UK Jobs Data (3.00pm) – Several components of the UK jobs data report will be watched after last week's markets watched the country's economic growth data. The latest data readings will provide guidance to the central bank in determining the direction of monetary policy and will influence the movement of the Pound currency.
Canadian Inflation Data (9.30 PM) – The monthly inflation rate in Canada is expected to experience a contraction for December 2023. The inflation report is important as a key indicator of whether central bank policy needs to be tightened or relaxed.
WEDNESDAY (January 17, 2024):
China Industrial Output Data (10.00 AM) – The annual reading of industrial production in China is expected to slightly increase for the close of last year likely to restore the current market sentiment. Some other data will be published together including Gross Domestic Product and retail sales.
UK Inflation Data (3.00 PM) – Some market analysts expect the inflation rate in the UK to decrease further, but it is seen to still be at a high level at 3.9% last year. A significant difference in published figures could have an impact on the Pound.
US Retail Sales Data (9.30 PM) – The rate of sales in America is expected to increase in December as consumer spending is brisk ahead of Christmas celebrations. This is also a driver that affects the increase in the current inflation rate.
THURSDAY (January 18, 2024):
Australian Employment Data (8.30am) – Based on the published report, Australia's central bank will assess the current health of the labor sector based on the monetary policy applied previously. This will provide an early indication of any policy changes if needed through the latest available figures.
FRIDAY (January 19, 2024):
UK Retail Sales Data (9.30pm) – The rate of retail sales in the UK is forecast to contract quite significantly for December after recovering in the previous month with encouraging readings.
US Consumer Confidence Survey (10:00 PM) – The University of Michigan will present a report for a consumer confidence survey in America assessing current financial levels. This survey can provide insight into future spending and economic activity.
