Here are some of the important economic data that will be the focus of the market throughout this week.
TUESDAY (May 28, 2024)
US Consumer Confidence Data (10.00 PM) – The Conference Board's consumer confidence survey report that will be published may affect the current movement of the US dollar currency. Forecast survey figures for May are slightly down from last month.
WEDNESDAY (May 29, 2024)
Australian Inflation Data (9.30am) – The Australian consumer price index reading will be watched by the central bank in making decisions for their further monetary policy. Inflation in April is projected to decrease again.
German Inflation Data (European Session) – The preliminary reading of German inflation for May is expected to record a lower figure. This is seen to support the central bank's plans to start cutting interest rates.
THURSDAY (May 30, 2024)
US GDP data (8.30 PM) - US economic growth for the first quarter will continue to be assessed through the second data reading to be published. After recording a low figure in the first reading last month, the market expected the latest figure to be lower.
FRIDAY (May 31, 2024)
China Manufacturing & Services PMI Data (9.30am) - Will influence global market sentiment, data from important sectors of China's economy will also be evaluated. The manufacturing and service sectors are expected to record positive readings for May.
Canadian GDP data (8.30 PM) – Canadian economic monthly growth is expected to be less encouraging for last March with a drop to zero compared to the previous month at 0.2%.
US PCE Price Index Data (8.30 PM) - Will drive the movement of the US dollar at the end of this week, this inflation component will also be the focus of the Fed to evaluate the results of their monetary policy changes.
