6 Important Economic Data News Market Focus This Week (October 9-13, 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 Producer Price Index data (Wednesday 8.30pm): The PPI data in America will be the initial focus which measures changes in the price of goods at the producer level. The producer inflation forecast for September is slightly down.</p><p><br /></p><p>Minutes of the FOMC Meeting (Thursday 2.00 AM): Details of the minutes of the latest FOMC meeting will be scrutinized for the market to continue to get a clearer indication for the next meeting in early November. The US dollar currency is expected to react to the published minutes report.</p><p><br /></p><p><br /></p><p>UK GDP data (Thursday 2.00 PM): UK economic growth is expected to record contraction in August investors are expected to support the recovery of the Pound. This data is also one of the important indicators for the central bank to evaluate and set monetary policy.</p><p><br /></p><p>US Consumer Price Index Data (Thursday 8.30pm): US inflation data is the main focus this week following last week's NFP jobs report. This will be the most important indicator for the Federal Reserve (Fed) in determining the direction of monetary policy after signaling to raise interest rates earlier.</p><p><br /></p><p>China Consumer Price Index Data (Friday 9.30 AM): As the second largest economy in the world, developments in China are monitored throughout the global market. The inflation situation in China will be evaluated based on published CPI data and give an overview of current consumer spending.</p><p><br /></p><p>US Consumer Sentiment Data (Friday 10.00 PM): This week's trade close will assess consumer sentiment surveys in America by a report from the University of Michigan. Preliminary readings are predicted to record a slight decrease.</p>