It will be a busy week in the US as the Federal Reserve will deliver its latest policy decision. While the central bank is likely to keep rates on hold, investors will be looking for clues as to the timing of the next rate hike. The most important releases will be nonfarm payrolls, wage growth, trade balance, PCE price index, factory orders, construction spending and ISM PMIs. Other key data include: ADP employment change; personal spending and income; employment cost index; S&P/Case-Shiller home prices; CB consumer confidence; total vehicle sales; unit labour costs and nonfarm productivity; Dallas Fed Manufacturing Index; Chicago PMI; and final readings of Markit PMIs.
In the United Kingdom, the Bank of England will also be deciding on monetary policy. A stronger than expected GDP growth for the third quarter raised expectations that the central bank will hike rates for the first time in a decade. Also, in the spotlight will be: Consumer confidence; housing prices; mortgage data; and Markit PMIs.
Elsewhere in Europe, third-quarter GDP estimates and flash inflation will be released for the Eurozone and several member countries. Other important releases include Eurozone unemployment and business climate; Germany retail trade and unemployment; and final readings of manufacturing PMIs.
In Japan, the Bank of Japan will meet and release its quarterly outlook report, but no changes in the monetary policy are expected. The country's retail sales, industrial production, unemployment, housing spending and housing statistics will also be watched. Meanwhile, China will release figures for official manufacturing and non-manufacturing PMI. The Caixin manufacturing and services PMIs will also be closely watched.
In Australia, the most important releases will be foreign trade, building permits, retail trade, AIG manufacturing and services indices, and private sector credit.
Other important releases include: Canada employment, trade balance and monthly GDP figures; New Zealand employment data; South Korea and Indonesia inflation; Brazil unemployment, trade balance and industrial production; and South Africa unemployment.