Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (February 27, 2024):
US Consumer Confidence Data (11.00 PM) - Will affect the movement of the US dollar, this survey of households will be watched which can give an insight into spending and economic activity. However, the forecast figures for the latest reading are expected to not change much.
WEDNESDAY (February 28, 2024):
Australian Inflation Data (8.30am) – The latest inflation rate in Australia for January is forecast to increase slightly to 3.6% after the previous month's reading eased to 3.4%. This will influence the decision of the Australian central bank for their monetary policy.
RBNZ Policy Meeting (9.00 AM) – New Zealand's central bank is expected to keep interest rates unchanged at 5.50% after the last time rates were raised to that level since May last year. Follow-up statements by the central bank will influence the direction of the New Zealand dollar.
US GDP data (9.30 AM) – The second release for American economic growth for the last quarter of 2023 will be watched by the market. The predicted number did not change as in the initial reading which was 3.3%.
THURSDAY (February 29, 2024):
US PCE Price Index Data (9.30 PM) – This data will be the main focus of the market this week as part of the inflation component. The figure is forecast to increase from 0.2% to 0.4% for January.
FRIDAY (March 1, 2024):
US Manufacturing PMI Data ISM Survey (11:00 PM) – The survey for the manufacturing sector in America is one of the indicators that can measure the current health of the economy. The latest reading is predicted to increase but remains below the 50.0 point level.
