Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (December 10, 2024)
RBA Policy Meeting (11.30 AM) – The Australian central bank is expected to keep interest rates at 4.35%. The market will be looking to the governor's follow-up speech for commentary on the current economy and indications of the direction of monetary policy going forward.
WEDNESDAY (December 11, 2024)
US Consumer Inflation Data (9.30 PM) – After last week's NFP, the next important indicator for the Federal Reserve is the latest US inflation reading. The consumer price index for November, which is forecast to rise, will further limit expectations of a rate cut at the December meeting.
BOC Policy Meeting (10.45 PM) – Being among the earliest central banks to begin easing, the Bank of Canada is expected to remain aggressive in lowering its interest rates. Like last October, the November meeting is also expected to cut 50 basis points.
THURSDAY (December 12, 2024)
Australian Employment Data (8.30 AM) – The latest report for November will provide a glimpse into the health of the Australian labor sector. Job growth is expected to rebound from the previous month's decline, but the unemployment rate is forecast to rise.
SNB Policy Meeting (4.30 PM) – The Swiss National Bank is expected to cut interest rates for the last meeting of 2024, with a 25 basis point interest rate cut for the fourth time in a row this year.
ECB Policy Meeting (9.15 PM) – After cutting interest rates to 3.40% at its October meeting, the European Central Bank is expected to continue cutting by 25 basis points for December.
US Producer Inflation Data (9.30 PM) – In addition to consumer inflation, the market will also be monitoring changes in the prices of goods and services at the producer level in America. A rising figure will make it harder for the central bank to continue easing policy.
FRIDAY (13 December 2024)
UK GDP Data (3.00pm) – Monthly UK economic growth in October is forecast to recover with better figures compared to the previous month's contraction.
