6 Important Economic Data News Market Focus This Week (25-29 Sept 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>German Business Climate ifo Survey (Monday 4.00pm): Assessing the current health of Europe's largest economy, the survey of business in Germany can be an indication of current health and a glimpse into future spending and economic activity.</p><p><br /></p><p>US Consumer Confidence Data (Tuesday 10.00 PM): Will drive the movement of the US dollar at the beginning of the week, the reading of the US household survey data is predicted to record a declining figure for September.</p><p><br /></p><p><br /></p><p>Australian Inflation Data (Wednesday 9.30am): The projected increase in Australia's inflation rate in August is seen to follow the positive employment report published earlier. This could potentially change the central bank's current monetary policy after the RBA kept interest rates unchanged at its latest meeting.</p><p><br /></p><p>US GDP data (Thursday 8.30 PM): After the reading of economic growth for the second quarter of America surprised the market by contracting, the final reading to be published this week is expected to return to record an increase again. This will further support the move for policy tightening by the Federal Reserve (Fed).</p><p><br /></p><p>Canadian GDP data (Friday 8.30pm): Markets will examine Canada's monthly economic growth readings published for last July. The forecast is somewhat gloomy in anticipation of a contraction, but slightly better than the previous month.</p><p><br /></p><p>US PCE Price Index Data (Friday 8.30 PM): Will affect the US dollar currency in trading in the last session of the week, this component of inflation data is also focused by the Fed in setting their monetary policy. But for the latest reading for the month of August, it is expected that there will be no change in the figures as before.</p>