8 Important Economic Data News Market Focus This Week (July 10-14, 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 (Monday 9.30 AM): As the world's second largest economy, China's current economic development will be monitored by investors who can have a big impact in the financial market. Global market sentiment will be assessed as risky if China's inflation rate declines.</p><p><br /></p><p>UK Employment Data (Tuesday 2.00pm): UK unemployment benefit claims are forecast to rise again for June while the unemployment rate is expected to remain at 3.8%. The upbeat jobs report will support policy tightening measures by the central bank.</p><p><br /></p><p>RBNZ Policy Meeting (Wednesday 10.00 AM): New Zealand's central bank will hold its monetary policy meeting this week with interest rate decisions expected to be kept at 5.50% as before. Since interest rates have been continuously raised throughout the past year, this is the first time that rate increases will be stopped by the central bank.</p><p><br /></p><p><br /></p><p>US Inflation Data (Wednesday 8.30pm): Being the Federal Reserve's (Fed) main indicator for policy setting, the US consumer price index data will be watched this week after last week's NFP employment data report had a big impact on the market.</p><p><br /></p><p>BOC Policy Meeting (Wednesday 10:00 PM): The Canadian central bank is expected to continue raising interest rates at the latest meeting after a surprise rate hike at the early June meeting in an effort to lower inflation to target levels.</p><p><br /></p><p>UK GDP data (Thursday 2.00pm): UK economic monthly growth for May is forecast to ease slightly and could weigh on the Pound towards the end of the week.</p><p><br /></p><p>US Producer Inflation Data (Thursday 8.30 PM): The US producer price index (PPI) will follow consumer inflation data which can be an early indicator through price assessments from factories. If the PPI increases, consumer inflation may also increase in the future.</p><p><br /></p><p>US Consumer Confidence Sentiment (Friday 10.00 PM): A look at this latest data projects an increased figure in July. The reading of this data gives an impression of the level of financial confidence of consumers and can be an indication of spending and economic activity. The increased number will have a positive effect on the US dollar.</p>