5 Important Economic Data News Market Focus This Week (August 7-11, 2023)

<p>&nbsp;Here are some of the important economic data that will be the focus of the market throughout this week.</p><p><br /></p><p>China Inflation Data (Wednesday 9.30 AM): As the second largest economy in the world, data from China is the focus that can influence global market sentiment. The annual inflation rate for the month of July is predicted to experience a significant decrease.</p><p><br /></p><p>US Inflation Data (Thursday 8.30 PM): Being the main indicator for the Federal Reserve (Fed) in setting their monetary policy, the latest American inflation rate will be evaluated. After falling to 3.0% in June, inflation is expected to rise again to 3.3% for July.</p><p><br /></p><p><br /></p><p>UK GDP data (Friday 2.00 PM): UK economic growth readings will be scrutinized by the market for the next clue in the central bank's policy setting. The Bank of England (BOE) at last week's meeting raised interest rates, but gave no hawkish signals for further policy.</p><p><br /></p><p>US PPI data (Friday 8.30 PM): The US producer inflation data reading will also be monitored which also gives an overview of the current price situation in the country. The forecast for the monthly reading of this data is a slight increase for the month of July.</p><p><br /></p><p>US Consumer Confidence Sentiment (Friday 10.00 PM): Will have an impact on the movement of the USD currency at the close of trading this week, data measuring consumer financial confidence will be watched. The latest figures are expected to show no significant difference compared to previous readings which have been updated downwards.</p>