Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (May 14, 2024)
UK Jobs Data (2.00pm) – After the central bank of England meeting has passed last week, investors will be looking to the UK jobs report to assess the current health of the economy. This report can also provide clues to the central bank to determine the direction of monetary policy.
US Producer Inflation Data (8.30 PM) – Will be an early indication to the Fed, the reading of the producer price index (PPI) in America will be watched. The forecast is that there will be no major changes in the figures for April compared to the previous month.
WEDNESDAY (May 15, 2024)
US Consumer Inflation Data (8.30 PM) – As an important indicator for the Fed to determine the direction of their monetary policy, the consumer price index will influence the decision whether policy needs to be tightened or the Fed will be ready to cut interest rates. A major impact of movement for the US dollar currency will be expected to occur.
THURSDAY (May 16, 2024)
Australian Jobs Data (9.30am) – After investors judged the central bank's cautious tone at its meeting last week, Australia's jobs report will be the latest indication. Employment growth in April is predicted to be positive, but the unemployment rate is expected to be at risk of increasing.
US Jobless Claims Data (8.30pm) – Markets will be looking at the latest reading of this data after last week's rise to the highest level since August last year.
FRIDAY (May 17, 2024)
China Industrial Production Data (10.00 AM) – At the end of the week, China's economic data will be focused such as industrial production, retail sales data and the unemployment rate which will be published together. A declining reading will cast a shadow of a risky global economy on investors.
