This week, the markets are preparing for a number of important economic data that will affect global markets, and central bank movements. It is started China's inflation data released this morning, which has sent some optimism in world markets from the world's second-largest economy. Let's review together the highlights of this week's economic data.
- Inflation data in New Zealand.
- The RBA meeting minutes.
- Inflation data in the UK.
- UK labor market data and retail sales.
- Australian Employment Data.
- Canadian inflation data and retail sales.
Inflation data in New Zealand:
The New Zealand Consumer Price Index (CPI) is scheduled to release for the third quarter of the year. Most of the forecasts are in favor of a quarterly rise of 0.4% after stabilizing growth in the second quarter. If the data is better than market expectations, this will be a strong supporter of the New Zealand dollar as the outlook for the New Zealand Reserve approaches the tightening of monetary tightening and interest rate hike.
RBA meeting minutes:
Tomorrow morning, attention will be focused on the minutes of the Reserve Bank of Australia meeting held in early October. The results are expected to help shape a clearer picture of the Australian Reserve's intentions towards the course of monetary policy in the coming period.
Inflation data in the UK:
Markets are also looking ahead to inflation data in UK in September. Consumer prices are expected to rise by 3.0%, with the core index (excluding food and energy) up by 2.7%. On the other hand, producer price inputs are expected to rise by 1.2% and output by 0.2%.
UK labor Market Data and Retail Sales numbers:
On Wednesday, markets are poised for labor market data in the UK. wages rates are expected to rise by 2.1% from June to August, while the Unemployment Change Index is expected to rise by 3.2K and unemployment to stabilize at 4.3%. On the other hand. Retail sales are expected to decline after rising last period.
Australian Employment Data:
The labor market has always been one of the main reasons for the Australian Reserve to resort to easing measures and cut interest rates more than once over the past years. So, if the data show better growth, this will be a major support for the Reserve Bank of Australia to start tightening monetary and raise interest rates by next year.
Canadian Inflation Data:
The Canadian dollar is expected to witness a dramatic change against most major currencies on Friday as markets looking for inflation data and retail sales for September as the Bank of Canada watches closely consumer spending and economic recovery in general and thus determines whether the bank will continue to pace The monetary tightening initiated this year follows the footsteps of the US Federal Reserve, or the situation needs to slow down and wait for more time before any policy adjustments are made.
