Highlights
US markets are closed for the Martin Luther King, Jr. Day public holiday. Canadian markets are open.
Manufacturing sales in Canada are expected to rise 0.5 percent on the month in November after jumping 2.8 percent in October, a month that ended a run of weak reports.
The Bank of Canada's quarterly business outlook survey is expected to show uncertainty over growth amid rising borrowing costs and slowing global demand while inflation is seen easing further. In the October survey, the business sentiment indicator marked for the third quarterly decline, slumping to 1.69 in the July-September quarter from 4.87 in April-June and 4.96 in January-March, after rising to a recent high of 5.88 in the final quarter of 2021 from 5.43 previously.
Among Chinese data, growth in fixed asset investment fell 5 tenths in November to a lower-than-expected 5.3 percent growth rate. December's consensus is 5.0 percent. This reading is on a year-to-date year-over-year basis.
The GDP of the world's second largest economy is expected to contract 0.9 percent in the fourth quarter from the previous three-month period, when it grew 3.9 percent. The year-over-year expectation in the October-December period is growth of 1.8 percent, slowing a 3.9 percent rise in July-September.
Year-over-year growth in industrial production in China is expected to slow to 0.4 percent in December, down from 2.2 percent in November, which was far lower than expected. Retail sales have missed expectations the last three reports and especially so in November, when sales fell 5.9 percent year over year. December sales are expected to fall 8.3 percent.
Manufacturing sales in Canada are expected to rise 0.5 percent on the month in November after jumping 2.8 percent in October, a month that ended a run of weak reports.
The Bank of Canada's quarterly business outlook survey is expected to show uncertainty over growth amid rising borrowing costs and slowing global demand while inflation is seen easing further. In the October survey, the business sentiment indicator marked for the third quarterly decline, slumping to 1.69 in the July-September quarter from 4.87 in April-June and 4.96 in January-March, after rising to a recent high of 5.88 in the final quarter of 2021 from 5.43 previously.
Among Chinese data, growth in fixed asset investment fell 5 tenths in November to a lower-than-expected 5.3 percent growth rate. December's consensus is 5.0 percent. This reading is on a year-to-date year-over-year basis.
The GDP of the world's second largest economy is expected to contract 0.9 percent in the fourth quarter from the previous three-month period, when it grew 3.9 percent. The year-over-year expectation in the October-December period is growth of 1.8 percent, slowing a 3.9 percent rise in July-September.
Year-over-year growth in industrial production in China is expected to slow to 0.4 percent in December, down from 2.2 percent in November, which was far lower than expected. Retail sales have missed expectations the last three reports and especially so in November, when sales fell 5.9 percent year over year. December sales are expected to fall 8.3 percent.
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.
