Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (April 23, 2024)
European Manufacturing & Services PMI data (4.00 PM) – Heading into the month-end trading week, markets will be watching this important sector data to gauge the current health of the country's economy. Data reading in Germany as the largest economy in Europe will have an impact on the Euro currency.
UK Manufacturing & Services PMI data (4.30pm) – Data readings for April in the UK are expected to remain above the 50-point level indicating expansion for both sectors.
US Manufacturing & Services PMI data (9.45 PM) – If there is a significant change in the data reading, it will affect the movement of the US dollar. Economic data is a sensitive indicator for the market at the moment which is evaluating the decision of the Federal Reserve to set their monetary policy.
Australian Inflation Data (9.30am) – Focusing on Australia's central bank, the latest consumer price index reading will be an important indicator. However the market will expect no significant change in the figures published for March and the first quarter of 2024.
THURSDAY (April 25, 2024)
US GDP data (8.30am) – After the first quarter of 2024 ends, preliminary readings for American economic growth will be assessed this month. The growth forecast is lower than the figure recorded for the last quarter of 2023.
FRIDAY (April 26, 2024)
BOJ Policy Meeting (Asian Session) – Likely to be the event that investors are waiting for at the end of this week, the results of the meeting by the central bank of Japan are awaited. Interest rates in Japan have finally come out of the negative zone. The market is also waiting for any indication of central bank intervention in the market as the value of the Yen falls significantly from the critical zone of 150.00.
US PCE Price Index Data (8.30 PM) – As a component of inflation data, this US consumer personal spending data is one of the observations of the Federal Reserve to determine changes in current interest rates. This data could also trigger a drastic movement of the US dollar for the last trading session of the week.
