7 Important Economic Data News Market Focus This Week (July 17-21, 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's GDP data (Monday 10.00 AM): China's quarterly economic growth reading will be watched at the opening of the early week with a forecast of positive rising figures. Will also be published along with several other readings including industrial production and retail sales.</p><p><br /></p><p>RBA Meeting Minutes (Tuesday 9.30am): Investors will scrutinize the minutes after Australia's central bank kept interest rates on hold at its early July meeting. Any new indication at the minute could have an impact on the movement of the Australian dollar.</p><p><br /></p><p>Canadian Inflation Data (Tuesday 8.30 AM): The latest inflation rate will be an important indicator for further monetary policy setting by the central bank of Canada after at the latest meeting, interest rates were raised by another 25 basis points.</p><p><br /></p><p><br /></p><p>US Retail Sales Data (Tuesday 8.30pm): Forecasts of an increase in the latest figures on US retail sales for June could support the US dollar again for a slight recovery.</p><p><br /></p><p>UK Inflation Data (Wednesday 2.00 PM): Inflation levels in the UK are still at a high level seen urging the central bank of England to remain in the tightening phase. The latest inflation forecast for June dropped slightly to 8.2%.</p><p><br /></p><p>Australian Jobs Data (Thursday 9.30pm): After a jump in the previous month's figures, job gains in Australia in June are forecast to slow back to around 16,500. Meanwhile, the unemployment rate is expected to remain at 3.6%.</p><p><br /></p><p>US Jobless Claims Data (Thursday 8.30pm): This weekly data is being watched by investors for jobless claims and gives a picture of the current health of the US labor sector. An increase in last week's reading is a bad sign.</p>