Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (January 21, 2024)
UK Employment Data (3.00 PM) – The labor sector in the UK will be assessed based on the latest report to be published this week in preparation for the Bank of England meeting in early February.
Canadian Inflation Data (9.30 PM) – As the Canadian central bank acted aggressively in easing monetary policy with a 50 basis point interest rate cut last December, inflation in Canada is expected to further contract in the latest report.
THURSDAY (January 23, 2024)
Canadian Retail Sales Data (9.30 PM) – The retail sales rate for November is forecast to be bleak with lower figures than the previous month.
FRIDAY (January 24, 2024)
BOJ Policy Meeting (Asian Session) – This week will influence the Yen, with the Japanese central bank expected to raise interest rates by 50 basis points after keeping them at 0.25% since September.
German Manufacturing & Services PMI Data (4.30 PM) – As we head into the month-end trading, the manufacturing and services sectors will be assessed. The reading for Germany, Europe’s largest economy, is expected to show little change compared to December.
UK Manufacturing & Services PMI Data (5.30 PM) – The forecast for PMI readings for both sectors in the UK is a slower pace for January. Services is expected to remain above the 50 mark.
US Manufacturing & Services PMI Data (10.45 PM) – The manufacturing and services sectors in America will be watched closely, which will influence the USD’s movement at the end of the week
