Concerns about the slowing economy are expected to remain top of mind amid concerns the Federal Reserve has left interest rates elevated for too long, which will hurt growth. China inflation and the RBA will be in focus. While the US will have a mild impact on the economic calendar this week.
The key data and events for this week.(China Inflation)
Monday – US ISM Services PMI
- The ISM Services PMI will be closely watched. The reading is expected to higher by 51.4 compared to the previous 48.8. That could weight on the dollar.
Monday – Bank of Australia Policy
- The Bank of Australia concludes its latest policy setting meeting which will be an important event for the market. However, market expect to kept rate unchanged at 4.35%.
Thursday – US Weekly Unemployment claims
- RBA Gov Bullock Speaks in early morning of Thursday, which could weight on the dollar.
- US Unemployment is said to be the next release of the day. The data is expected to increase by 245,000 compared to the previous week 249,000. This could have a stabilizing effect on the value of the dollar.
Friday – China CPI
- China CPI y/y will be important data to watch the data is expected to increase by 0.3% compare to 0.2%. While, PPI y/y foreseen in contraction figure of 0.9% from previous contraction of 0.8%. That could weight on the base metals.
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Commodity Samachar
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