Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (November 19, 2024)
Canadian Inflation Data (9.30 PM) – The expectation of an increase in the inflation rate in Canada for October has the potential to change the direction of the Canadian central bank's monetary policy which is actively implementing policy easing. The forecast monthly inflation reading in October is to increase to 0.3%.
WEDNESDAY (November 20, 2024)
UK Inflation Data (3.00pm) – After cutting interest rates for the second time this year at its latest meeting, the Bank of England has signaled caution on its next move. This follows inflation forecasts which are expected to rise again above the 2.0% level for October after a previous decline which had reached 1.7%.
THURSDAY (21 November 2024)
US Jobless Claims Data (9.30pm) – Claims figures for the previous week were good with a lower reading than forecast. For the latest reading for last week, interest claims are expected to increase slightly again.
FRIDAY (November 22, 2024)
UK Retail Sales Data (3.00pm) – The forecast for the pace of sales in the UK in October is weak. A negative reading could put pressure on the Pound currency trading at the end of the week.
German Manufacturing & Services PMI (4.30pm) – Data readings for key sectors will give an indication of the current health of the economy in Europe, particularly Germany. However, the figures for November are not expected to show significant differences compared to last month.
UK Manufacturing & Services PMI (5.30 PM) – These two important sectors in the UK are expected to be stable with forecast readings above the 50.0 point level indicating positive expansion.
Canadian Retail Sales Data (9.30 PM) – The report released to assess the pace of sales in Canada for last September is expected to come in with gloomy numbers along with core readings.
US Manufacturing & Services PMI (10.45 PM) – Closing trade in the last session of the week, these important sectors in America will be watched by investors. For the previous reading, the service remains good but the reading for the manufacturing data still remains below the 50 point level.
