Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (November 12, 2024)
UK Jobs Data (3.00pm) – In a further indication of the Bank of England having just cut interest rates last week, the latest UK jobs data report will be watched to assess the health of the labor sector.
WEDNESDAY (November 13, 2024)
US Consumer Price Index Data (9.30 PM) – The main focus this week will certainly be on the American inflation data which remains the compass of the direction of the Federal Reserve's monetary policy. Interest rates were cut by a further 25 basis points last week, but the decision at the December meeting has yet to be decided. Consumer inflation in October is forecast to remain at 2.4%.
THURSDAY (November 14, 2024)
Australian Jobs Data (8.30am) – Looking at the forecast for the Australian jobs report, employment growth in October is expected to be slower at around 25,200 compared to 64,100 in the previous month. While the unemployment rate is projected to remain at 4.1%.
US Producer Price Index Data (9.30 PM) – Following consumer inflation, the US producer price inflation (PPI) data will also be watched for investors to assess changes in the price of goods and services at the producer level.
FRIDAY (November 15, 2024)
China Industrial Production Data (10.00 AM) - Investors will also examine the development of data in China as the second largest economy in the world. The industrial production report will be published along with retail sales data as well as some other data.
UK GDP data (3.00 PM) – Monthly growth of the UK economy in September is expected to be unchanged at 0.2%, as per the previous reading. Some other data will be published together such as trade balance of goods and industrial production.
US Retail Sales Data (9.30 PM) – Closing the trade for the week, US retail sales data will be available in the final session. However, the forecast does not show a good figure, slightly weaker for the reading for the month of October compared to the previous month.
