8 Important Economic Data News Market Focus This Week (October 2-6, 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>US Manufacturing PMI Data ISM Outlook (Monday 10.00 PM): The outlook for the manufacturing sector in America for the whole of 2023 has not yet reached a stable figure above the 50.0 point level until September. The same goes for the prediction of the latest readings which are expected to show no significant changes.</p><p><br /></p><p>RBA Policy Meeting (Tuesday 11.30am): The opening of October trading will again see the results of the meeting and monetary policy by the central bank of Australia with interest rates forecast to remain at 4.10%. However, will there be any more surprises like before?</p><p><br /></p><p>US JOLTS Employment Data (Tuesday 10.00 PM): The market will assess the number of jobs offered in America last August. The increased numbers will have a positive impact on the current labor sector assessment.</p><p><br /></p><p><br /></p><p>RBNZ Policy Meeting (Wednesday 9.00 AM): New Zealand's central bank is expected to keep rates unchanged at 5.50% after last raising rates to that level since last May's meeting.</p><p><br /></p><p>US ADP Employment Data (Wednesday 8.15 PM): Measuring private sector employment in America, the published ADP data will be an early indicator of the NFP data at the end of the week. The increase forecast for September is lower than the previous month.</p><p><br /></p><p>US Services PMI Data ISM Survey (Wednesday 10.00 PM): In contrast to the manufacturing sector, services in America remained above 50.0 points indicating an expansion in economic activity. But the latest reading is expected to drop slightly for September.</p><p><br /></p><p>Canadian Jobs Data (Friday 8.30pm): Likely to put pressure on the Loonie's performance at the end of the week, the outlook for the Canadian labor sector for September is bleak. Job growth is expected to be weak while the unemployment rate is predicted to rise.</p><p><br /></p><p>US NFP Employment Data (Friday 8.30 PM): Being the main focus and also the closing trade of the week, the NFP employment report will be watched after the Federal Reserve (Fed) at the latest FOMC meeting signaled to continue raising interest rates. Job growth is predicted to be slower, but unemployment is expected to decrease slightly.</p>