Here are some of the important economic data that will be the focus of the market throughout this week.
WEDNESDAY (July 22, 2024)
German Manufacturing & Services PMI data (3.30 PM) – Key sectors in Germany as Europe's largest economy will be watched to assess their current health through data published at the end of the month. The latest reading for July is not expected to change much after experiencing a decline in the previous reading.
UK Manufacturing & Services PMI Data (4.30pm) – Both manufacturing and services sectors in the UK are forecast to post better readings than the previous month.
US Manufacturing & Services PMI data (9.45 PM) – Both key sectors in America are expected to remain positive above the 50-point reading for July.
BOC Policy Meeting (9.45pm) – Canada's central bank has previously been among the first to begin easing monetary policy. For the latest meeting this week, interest rates are expected to be cut by 25 basis points to 4.50% following a downbeat reading on Canadian retail sales and inflation data last week.
THURSDAY (July 22, 2024)
US GDP data (8.30 PM) – The American economic growth data report for the second quarter will start to be published. This week, the first reading will be in focus with the number forecast to increase to 1.9% higher than the 1.4% growth in the previous first quarter.
FRIDAY (July 26, 2024)
US PCE Price Index (8.30 PM) – Being one of the important indicators for the Federal Reserve, this inflation component data will be evaluated. The core reading of the consumer personal expenditure index for June is expected to rise slightly.
