Here are some of the important economic data that will be the focus of the market throughout this week.
MONDAY (September 9, 2024)
China Inflation Data (9.30am) – China's inflation rate which is expected to increase for the August report is seen to restore global market sentiment. The increase in inflation shows a positive development for the world's second largest economy.
TUESDAY (September 10, 2024)
UK Jobs Data (2.00pm) – Several components of the UK jobs report will be observed with somewhat mixed forecast figures. The unemployment rate is expected to decrease but average wages are predicted to be lower.
WEDNESDAY (September 11, 2024)
UK GDP Data (2.00 PM) – The monthly growth of the UK economy in July is expected to be more positive with expectations to register 0.2% compared to zero growth in the previous report. Some other data will be published together including industrial production.
US Inflation Data (8.30pm) – Ahead of the FOMC meeting approaching, the Federal Reserve will monitor key indicators of the US economic situation through this week's US inflation data following last week's jobs report.
THURSDAY (September 12, 2024)
ECB Policy Meeting (8.15pm) – Investors eagerly await the outcome of the European central bank's policy meeting which is said to be set to implement aggressive rate cuts at the latest meeting. A cut of up to 60 basis points would bring interest rates down to 3.65%.
US PPI data (8.30 PM) – In addition to consumer inflation data, the market will also watch the producer inflation report in America which will also have an impact on the movement of the US dollar currency.
FRIDAY (September 13, 2024)
US Consumer Confidence Data (10.00 PM) – A survey of consumer confidence sentiment in America will close trading in the final session of the week. In addition to affecting the US dollar, this data also provides an overview of spending and economic activity as a whole.
