ECB and BoC policy decisions and global PMIs headline the week’s economic agenda
2023.10.22 06:44
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The upcoming week is set to be a significant one for global markets, with several key economic indicators and policy decisions on the horizon. Central banks, including the European Central Bank (ECB) and the Bank of Canada (BoC), are expected to maintain interest rates as they continue to gather data amidst a changing economic landscape.
The Office for National Statistics (ONS) anticipates a 4.3% unemployment rate in the UK, following a delay in specific labor data due to reduced Labour Force Survey responses. The unemployment rate announcement will be closely watched by investors, given its potential impact on market sentiment.
Global Purchasing Managers’ Indexes (PMIs), including those from Australia, Japan, Eurozone, UK, and the US across both manufacturing and services sectors, are also due to be released this week. Any unforeseen downturns in these PMIs could sway market reactions, particularly in light of rising long-term yields.
Additionally, data on Australia’s Consumer Price Index (CPI) and Producer Price Index (PPI), as well as the German IFO business climate index, will provide further insight into the health of these economies.
The United States will release its GDP data for Q3 along with Durable Goods Orders, Jobless Claims, and Core Personal Consumption Expenditures (PCE). These figures can have a significant effect on investor sentiment and market movements.
Meanwhile, Tokyo’s CPI data and Eurozone’s Manufacturing PMI will also be released, providing additional context for global economic conditions. Overall, this week’s economic calendar presents several key events that could drive market activity and investor decisions.
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