8 Important Economic Data News Market Focus This Week (October 16-20, 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>New York Manufacturing Index Data (Monday 8.30pm): The survey of 200 manufacturers in New York is also part of the market-watched indicators that contribute to the current health of the American economy. However, expectations for the mid-October reading are predicted to be weak.</p><p><br /></p><p>New Zealand Inflation Data (Tuesday 5.45am): The inflation reading for the third quarter in New Zealand is forecast to increase from 1.1% to 1.9%. This will be the market's initial indication of the projected steps the central bank will take in setting their monetary policy.</p><p><br /></p><p>UK Employment Data (Tuesday 2.00pm): A number of components in the latest UK jobs report will be of note especially the number of jobless benefit claims which are expected to rise again for September. The average income index as well as the unemployment rate are predicted to have no significant change in the latest reading.</p><p><br /></p><p><br /></p><p>Canadian Inflation Data (Tuesday 8.30pm): The monthly inflation reading in Canada is expected to be lower to zero than previously. A lower figure could push the value of the Canadian dollar lower in the market.</p><p><br /></p><p>US Retail Sales Data (Tuesday 8.30pm): Also being one of the components of inflation, the current sales rate measures whether people's spending levels are increasing or decreasing. The forecast for September is more gloomy than the previous month.</p><p><br /></p><p>UK Inflation Data (Wednesday 2.00 PM): The inflation rate in the UK is still at a high level. Only a slight decrease is expected for the latest reading which is down to 6.6% from 6.7%. The central bank is seen as still struggling to tame inflation since it spiked after the pandemic.</p><p><br /></p><p>Australian Jobs Data (Thursday 8.30am): Australian job growth in September is forecast to slow back to around 20,900 after a jump in the previous month of 64,900. However, the unemployment rate is projected to remain at 3.7%.</p><p><br /></p><p>UK Retail Sales Data (Friday 2.00 PM): The European session at the end of the week is seen to see an impact on the movement of the Pound currency. The rate of retail sales in September is expected to slip to negative levels, indicating a slowdown in spending.</p>