Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (18 February 2025)
RBA Policy Meeting (11.30 AM) – The Reserve Bank of Australia will announce its latest interest rate this week with an expected 25 basis point cut to be implemented. This will be the first cut since interest rates were maintained at 4.35% since November 2023.
UK Employment Data (3.00 PM) – The increase in employment in the UK and the 3-month average wage index will be observed which could influence the direction of the Pound currency movement this week. This data will also be an indication to the central bank in setting monetary policy next month.
Canadian Inflation Data (9.30 PM) – The Canadian monthly inflation reading for January is expected to return to zero after the negative figure was recorded in the previous report. The latest data will guide the Canadian central bank, which is seen as still active in its policy easing action.
WEDNESDAY (February 19, 2025)
RBNZ Policy Meeting (9.00 AM) – The Reserve Bank of New Zealand (RBNZ) is expected to implement aggressive policy easing with a 50 basis point cut in its latest interest rate. The interest rate at 4.25% is set to fall to 3.75%.
UK Inflation Data (3.00 PM) – After the UK annual inflation in December eased slightly from 2.6% to 2.5%, the latest expectation for January's inflation figure is to jump back to 2.8%. A dilemma will arise for the Bank of England's central bank in its policy easing plan if inflation continues to rise.
THURSDAY (February 20, 2025)
FOMC Meeting Minutes (3.00 AM) – Investors will be watching for further details on the Federal Reserve's monetary policy. At the January meeting, FOMC members unanimously agreed to keep interest rates on hold and Chairman Jerome Powell maintained a cautious tone for future decisions.
Australian Jobs Data (8.30 AM) – Expected to put pressure on the Aussie dollar this week, with Australian job growth in January forecast to slow to 19,700 compared to a gain of 56,300 the previous month. Meanwhile, the unemployment rate is forecast to rise to 4.1% from 4.0%.
FRIDAY (February 21, 2025)
European Manufacturing & Services PMI (5.00 PM) – The current health of the European economy, particularly Germany, will be assessed through readings on the manufacturing and services sectors for January.
UK Manufacturing & Services PMI (5.30 PM) – These two key sectors in the UK are expected to show little change in their January readings compared to the previous month. If there is a significant change in the figures, the impact will be greater on the Pound.
US Manufacturing & Services PMI (10.45 PM) – The American manufacturing and services sector for January is expected to remain stable with readings above the 50 point level for January.
