This week, investors are looking at a number of important economic data that will have an impact on market movements. A number of major central banks will announce monetary policy decisions in the coming period, and a number of important economic indicators will be issued to determine the direction of the economy during the coming period.
The following highlights the most important data:
BoC rate decision
It is widely expected that the Bank of Canada, at its penultimate meeting in 2018 on Wednesday, will raise interest rates by 25 basis points to 1.75%. If this happens, it will be the fifth time that the central bank has raised rates since July 2017. It is expected that The Bank of Canada continues to tighten monetary policy in 2019 as the economy is expected to grow faster than expected.
ECB rate decision
Most, if not all, expectations are for the ECB to leave interest rates unchanged to stay at record lows. Investors will follow the press conference of ECB President Mario Draghi to find out more about the bank's plans to raise interest rates as the deadline approaches for Bond purchase program by the end of this year.
Growth and inflation data in the United States
On Friday, traders will look to third-quarter growth data, with gross domestic product expected to rise by 3.3% on a yearly basis after growing by 4.2% in the second quarter of 2018, the strongest reading in four years.
Core personal consumption expenditure data, the Fed's preferred for measuring inflation is expected to rise by 2% in the third quarter of 2018 after rising by 2.1% in the second quarter
