Highlights
No revisions are expected to the UK purchasing managers' indexes for December, when the services PMI edged up to the breakeven point of 50.0 from 48.8 in November while the composite PMI rose to 49.0 from 48.2, marking the fifth straight month of contraction.
In the Eurozone, producer prices are expected to show some easing, falling 0.5 percent on the month in November for annual growth of 27.9 percent, the latter would compare with October's 30.8 percent.
Consumer inflation in Italy remains elevated, with the annual rate forecast at 11.7 percent in December, little changed from 11.8 percent in November. The CPI is seen up 0.2 percent on the month, slowing from a 0.5 percent rise in the prior month.
In the US, ADP's December employment report is expected to show private payrolls is estimated to have risen 145,000 on the month in December, compared with November growth in private payrolls reported by the Bureau of Labor Statistics of 221,000. ADP's number for November was 127,000.
The US goods and services trade is forecast to post a deficit of $75.0 billion in November after a $78.2 billion deficit in October.
Jobless claims for the December 31 week are seen at 225,000, unchanged from the prior week.
The final PMI data for December is expected to confirm that the US services sector index remained depressed at 44.4, unchanged from the mid-month report that showed a slump from 46.2 in November.
In Canada, the merchandise trade is expected to show its surplus shrank to C$0.8 billion in November from $1.2 billion in October, a month boosted by a 1.5 percent rise in exports at the same time that imports declined 0.1 percent.
Atlanta Federal Reserve Bank President Raphael Bostic will give welcome remarks before the Federal Reserve Day Ahead Conference on Financial Markets and Institutions at 9:20 a.m. EST (1420 GMT).
At 1:20 p.m. EST (1820 GMT), St. Louis Federal Reserve Bank President James Bullard will give an in-person presentation on the U.S. Economy and Monetary Policy before the CFA Society and St. Louis Rotary Club.
No major revisions are expected to the initial readings of Japan's PMIs. Business conditions in the services sector picked up slightly in December after being nearly flat in November and expanding in the previous two months. The services PMI rose to 51.7 in December after slipping to 50.3 in November from 53.2 in October. The government's new travel discount program and eased Covid border control since October continued supporting the tourism industry and some retailers.
The composite output PMI, which is calculated from both the manufacturing and services indexes, rose to the breakeven point of 50.0 in December after slumping to 48.9 in November. Import costs for various goods remain elevated but have eased somewhat as the yen has appreciated slightly against the dollar.
In the Eurozone, producer prices are expected to show some easing, falling 0.5 percent on the month in November for annual growth of 27.9 percent, the latter would compare with October's 30.8 percent.
Consumer inflation in Italy remains elevated, with the annual rate forecast at 11.7 percent in December, little changed from 11.8 percent in November. The CPI is seen up 0.2 percent on the month, slowing from a 0.5 percent rise in the prior month.
In the US, ADP's December employment report is expected to show private payrolls is estimated to have risen 145,000 on the month in December, compared with November growth in private payrolls reported by the Bureau of Labor Statistics of 221,000. ADP's number for November was 127,000.
The US goods and services trade is forecast to post a deficit of $75.0 billion in November after a $78.2 billion deficit in October.
Jobless claims for the December 31 week are seen at 225,000, unchanged from the prior week.
The final PMI data for December is expected to confirm that the US services sector index remained depressed at 44.4, unchanged from the mid-month report that showed a slump from 46.2 in November.
In Canada, the merchandise trade is expected to show its surplus shrank to C$0.8 billion in November from $1.2 billion in October, a month boosted by a 1.5 percent rise in exports at the same time that imports declined 0.1 percent.
Atlanta Federal Reserve Bank President Raphael Bostic will give welcome remarks before the Federal Reserve Day Ahead Conference on Financial Markets and Institutions at 9:20 a.m. EST (1420 GMT).
At 1:20 p.m. EST (1820 GMT), St. Louis Federal Reserve Bank President James Bullard will give an in-person presentation on the U.S. Economy and Monetary Policy before the CFA Society and St. Louis Rotary Club.
No major revisions are expected to the initial readings of Japan's PMIs. Business conditions in the services sector picked up slightly in December after being nearly flat in November and expanding in the previous two months. The services PMI rose to 51.7 in December after slipping to 50.3 in November from 53.2 in October. The government's new travel discount program and eased Covid border control since October continued supporting the tourism industry and some retailers.
The composite output PMI, which is calculated from both the manufacturing and services indexes, rose to the breakeven point of 50.0 in December after slumping to 48.9 in November. Import costs for various goods remain elevated but have eased somewhat as the yen has appreciated slightly against the dollar.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
