Here are some of the important economic data that will be the focus of the market throughout this week.
MONDAY (August 5, 2024)
US Services PMI Data ISM Survey (10.00 PM) – In contrast to readings for the manufacturing sector which showed a decline last week, the outlook for the US service sector is expected to expand in July from previous contraction levels.
TUESDAY (August 6, 2024)
RBA Policy Meeting (12.30 Noon) – Markets expect the Reserve Bank of Australia at its latest meeting to keep interest rates unchanged. A follow-up speech by the governor will give an indication of the direction of the next monetary policy which is increasingly pressured to move into an easing phase.
WEDNESDAY (August 7, 2024)
New Zealand Jobs Data (6.45am) – The labor sector in New Zealand will give a gloomy picture following expectations of a slowdown in job growth in June. In fact, the unemployment rate is predicted to rise to 4.7% from 4.3% before.
THURSDAY (August 8, 2024)
US Jobless Benefit Claims (8.30pm) – The rate of benefit claims in America on last week's reported reading jumped and forecasts on this week's data also remain as high as around the figure.
FRIDAY (August 9, 2024)
China Inflation Data (9.30 AM) – As the second largest economy in the world, China's inflation data report at the end of this week will steal the attention of investors. The forecast for consumer inflation is rising while producer inflation is falling.
Canadian Jobs Data (8.30pm) – After two consecutive cuts by Canada's central bank, will similar moves continue at the next meeting? Markets will be looking at the lead on Canadian jobs data as a key indicator for the central bank.
