Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (August 13, 2024)
UK Jobs Data (2.00pm) – The component of the UK jobs report will continue to be watched as investors assess the outlook for the next direction of the central bank of England's monetary policy after initiating interest rate cuts at the previous meeting.
US PPI data (8.30 PM) – The reading of producer inflation in America will give an early indication of inflation at the consumer level with the figure forecast to fall for last July.
WEDNESDAY (August 14, 2024)
RBNZ Policy Meeting (10.00 AM) – New Zealand's central bank is expected to keep interest rates unchanged at 5.50% for the August 2024 meeting. The follow-up speech by the governor will be an important indicator that will influence the movement of the Kiwi currency.
UK Inflation Data (2.00 PM) – The UK's annual inflation rate is forecast to increase from 2.0% to 2.3% for July. An increase in inflation may prompt the central bank to return to implementing monetary policy tightening measures.
US Inflation Data (8.30 PM) - Being the main focus data this week, the consumer inflation rate will be an important indicator for the Federal Reserve whether interest rates will be lowered or otherwise at the September meeting. The forecast figure is that inflation will remain at 3.0%.
THURSDAY (August 15, 2024)
Australian Jobs Data (9.30am) – The market expects slower growth in Australian jobs for July after a jump in growth the previous June. The unemployment rate is expected to remain at 4.1%.
UK GDP data (2.00 PM) – UK economic growth in June is expected to be slower after other data were also dismal, prompting the central bank to cut interest rates. Some other data will be published together and will also be observed including trade balance data and industrial production.
US Retail Sales Data (8.30 PM) – In addition to inflation, retail sales rates in America will also be assessed. Changes in the value of retail sales provide insight into consumer spending and economic activity.
FRIDAY (August 16, 2024)
UK Retail Sales Data (2.00 PM) – The rate of retail sales in the UK in July is expected to turn positive again after the previous month recorded a contraction to negative levels.
