Author: Mr. Shah – Technical Analyst
Important economic data is in focus for the market throughout the week.
China’s Gross Domestic Product Data (Monday 10.00 am): The world’s second-largest economic growth for the last quarter of 2021 will be an investor’s assessment with growth forecast figures likely to decline.
UK Employment Data Report (Tuesday 3.00 pm): Pound will be driven by the release of the UK employment report this week which will be the focus of the central bank in setting monetary policy.
German Economic Sentiment ZEW Survey (Tuesday 6.00 PM): This survey data is one of the indicators that assess the current health of the European economy. The reading, which remains above the 0.0 level, continues to give a positive signal on economic development despite various risks.
UK Inflation Data (Wednesday 3.00 pm): Focus on the central bank of England (BOE) in its policy tightening, the inflation rate in the UK will be monitored. The market will expect UK annual inflation to rise to its highest level in more than a decade.
Canadian Inflation Data (Thursday 9.30 pm): The monthly reading for inflation in Canada is forecast to decline which will likely consider the Canadian central bank’s plans to continue tightening monetary policy earlier.
Australian Jobs Data Report (Thursday 8.30 am): The Australian economy is expected to record lower job growth in December 2021, 60,000 compared to 366,100 in the previous month.