Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (October 28, 2024)
JOLTS Employment Data (10.00 PM) – The market will again watch for indications from the labor sector in America which is the focus of the central bank. The number of open job offers will give an indication of the current health of the economy. The data will be published alongside a consumer confidence survey.
WEDNESDAY (October 29, 2024)
Australian Inflation Data (8.30am) – Will pressure Australia's central bank to continue easing monetary policy, a key indicator on the latest inflation figures is forecast to edge lower in September.
ADP Employment Data (8.15 PM) – The market will expect private sector job growth in America to slow in October after an upbeat figure was recorded the previous month.
US GDP data (8.30 PM) – Investors will be watching preliminary readings for US economic growth for the third quarter. The forecast figure is expected to be unchanged from the final reading in the previous quarter.
THURSDAY (30 October 2024)
China Manufacturing & Services PMI data (9.30am) – Developments for key sectors in China will be assessed as they may have an impact on global market sentiment.
BOJ Policy Meeting (Asia Session) – Rumors of a change in policy in Japan continue to have an unsettling effect on the movement of the Yen. For the latest meeting, Japan's central bank is expected to keep interest rates unchanged at 0.25%.
US PCE Price Index Data (8.30 PM) – Being one of the central bank's focus inflation components, this index that measures consumer personal spending is expected to have a big impact on market movements at the end of the week.
FRIDAY (November 1, 2024)
NFP Jobs Data (8.30pm) – The main market focus this week is likely to be on the US jobs report. This will affect the Federal Reserve's decision for the remaining meeting at the end of 2024.
US Manufacturing PMI Data ISM Survey (10.00 PM) – Closing the trade this week, the survey data for the manufacturing sector in America will also be watched by investors. The survey also gives a picture of the current health of the world's largest economy.
