Here are some of the important economic data that will be the focus of the market throughout this week.
MONDAY (December 2, 2024)
US Manufacturing PMI Data ISM Survey (11.00 PM) – The outlook for the manufacturing sector in America will be observed at the opening of this new month. The PMI forecast figure is expected to increase in November compared to the previous month's decline, but will still remain below the 50-point mark.
TUESDAY (December 3, 2024)
JOLTS Employment Data (11.00 PM) – The assessment of the labor sector in America will be helped by the latest JOLTS data report that calculates the number of job openings in October. The forecast is a slow increase after the decline in the previous month.
WEDNESDAY (December 4, 2024)
Australian GDP Data (8.30 AM) – After the inflation data was published last week, the Australian central bank will examine the next indicator through economic growth data. Australia's third-quarter GDP is forecast to grow well, rising to 0.5%.
US ADP Employment Data (9.15 PM) – This data, which measures private employment in the US, is expected to put pressure on the US dollar. This follows a gloomy forecast for November with an expected increase of 166,000 after a surge of 233,000 in October.
US ISM Services PMI Data (11.00 PM) – The outlook for the US services sector remains well-forecasted above the 50-point mark. However, it is expected to decline slightly for the November reading.
FRIDAY (6 December 2024)
Canada Employment Data (9.30 PM) – The Bank of Canada (BOC) has been one of the most consistent rate-cutters since its June meeting this year. In October, the BOC was more aggressive in cutting rates by 50 basis points. The next indication will come from the Canadian jobs report for November.
US NFP Employment Data (9.30 PM) – After a disappointing reading in the previous month due to several areas of the US being hit by disasters, the market will be reassessing the latest data on employment growth for November. Forecasts are for 202,000 jobs to be recorded while the unemployment rate is projected to rise from 4.1% to 4.2%.
