This week the market is heading for a number of important events and economic data that will have an impact on the movements of financial markets. The highlights of these events are below:
New Zealand Inflation Data
The CPI is expected to show further improvement in the third quarter of 2018, rising by 0.7% on a quarterly basis and by 1.7% on a yearly basis, following a 0.4% rise on a quarterly basis and 1.5% on a yearly basis in the second quarter.
Australian Employment Data
The Australian labor market is moving well despite some hurdles, the Australian economy added 44,000 jobs in August and is expected to add only 15,000 jobs in September, while unemployment is expected to remain unchanged at 5.3%.
Also, this week, the Reserve Bank of Australia's latest meeting minutes, which kept interest rates unchanged at 1.5% for more than two years now, will be released this week.
UK Inflation and employment data
British inflation data is due to release on Wednesday and the consumer price index is expected to rise by 2.8% in September after rising by 2.7% in August. In addition, attention will be directed to UK employment data on Tuesday, where the wages is expected to slow in the three months to August and unemployment expected to stabilize at 4%.
Summit of the European Union
The issue of Brexit remains the main issue at this week's European Union leaders' meeting. This summit is set as a deadline to reach an agreement, but in the worst case scenario, another date was set in November.
FOMC meeting minutes
On Wednesday, FOMC meeting minutes are due to release, the Fed raised interest rates to 2.25% in the latest meeting, and it was the third time this year. The Fed's tone in the latest statement was described as being more hawkish as it is abandon to describe its monetary policy as accommodative.
Growth data in China
China will announce economic growth data for the third quarter, making it the first among the major economies to report Q3 growth data. GDP is expected to grow by 6.6 percent compared to the second quarter which economy grew by 6.7 percent.
