/analysis/week-ahead-markets-to-focus-on-rbnz-rate-statement-and-us-core-pce-price-index/
Several key factors are expected to impact the financial markets this week, including the Reserve Bank of New Zealand’s Rate Statement and the US Core Personal Consumption Expenditure (PCE) Price Index. Given the potential for significant market movements, we advise traders to exercise caution when undertaking any trading activity.
The monthly CPI in Australia increased by 5.6% in the 12 months leading up to September 2023, reaching its highest level in five months.
Analysts forecast a growth rate of 5.2% in the figures for October 2023, which are due to be released on 29 November.
During its October meeting, the Reserve Bank of New Zealand (RBNZ) held its official cash rate (OCR) steady at 5.5%, marking the third consecutive meeting without a change in the rate.
Analysts anticipate that the RBNZ will maintain its OCR at 5.5% following its upcoming meeting on 29 November.
The Canadian economy experienced no change in August 2023, a downward revision from preliminary estimates of a 0.1% growth rate.
The September data for Canada’s GDP is set to be released on 30 November and is expected to reflect no change from August’s figures.
The US core PCE prices, which exclude food and energy, rose by 0.3% in September 2023, the highest increase in four months.
The next set of data will be released on 30 November, with analysts expecting a growth of 0.2%.
The Canadian economy added 17,500 jobs in October 2023, marking the third consecutive month of workforce expansion. Meanwhile, the unemployment rate increased to 5.7% in the same period, up from 5.5% in the previous month, reaching its highest level since January 2022.
The figures for November 2023 are scheduled to be released on 1 December, with analysts expecting the creation of 14,000 additional jobs and a rise in the unemployment rate to 5.8%.
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