7 Important Economic Data News Market Focus This Week (June 26-30, 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 Survey (Monday 4.00 PM): This ifo survey data will be monitored to assess the health of business in Germany which could have an impact as Europe's largest economy. Forecasts on the latest survey figures for June are slightly down from last month.</p><p><br /></p><p>Canadian Inflation Data (Tuesday 8.30 PM): After the labor sector in Canada is more gloomy for May, the inflation rate will be scrutinized for the market to get an idea of the expected next step in monetary policy setting by the Bank of Canada (BOC) at the next meeting.</p><p><br /></p><p>US Consumer Confidence Data (Tuesday 10:00 PM): The household survey in America is one of the indicators for the level of people's finances and spending. Expectations for data readings for June are up.</p><p><br /></p><p><br /></p><p>Australian Inflation Data (Wednesday 9.30am): Australia's consumer price index will be under scrutiny after the central bank surprised by raising interest rates at its latest meeting. The published data can be a guide for the further direction of monetary policy.</p><p><br /></p><p>US GDP data (Thursday 8.30pm): The final reading of US economic growth in the first quarter will be judged by the market. An increase in the published figures will give positive value and support the USD currency to rise.</p><p><br /></p><p>Canadian GDP data (Friday 8.30pm): Monthly growth for Canada is forecast to pick up slightly to recover from the previous contraction. Strong economic growth may prompt the central bank to continue policy tightening by raising current interest rates.</p><p><br /></p><p>US PCE Price Index Data (Friday 8.30 PM): The survey on consumer personal spending data in America will be closely scrutinized by the Federal Reserve (Fed) which is one of the important components in setting its monetary policy.</p>