Highlights
Switzerland's producer and import price index is forecast to have risen 0.3 percent on the month in December after falling 0.5 percent in November.
The European Central Bank will release the minutes of its Dec. 14-15 meeting at which the Governing Council decided to raise the three key ECB interest rates by 50 basis points, saying interest rates will still have to rise significantly at a steady pace to reach levels that are sufficiently restrictive to ensure a timely return of inflation to the 2 percent medium-term target.
Among US data, December's annualized rates are expected at 1.362 million units for housing starts and 1.380 million for building permits, which would compare with 1.427 million and 1.342 million in November.
Jobless claims for the January 14 week are expected to rise slightly to 215,000 versus 205,000 and 206,000 in the two prior weeks.
The Philadelphia Fed manufacturing index is expected to come in at minus 10.3 in January, picking up from minus 13.8 in December. It follows Tuesday's release of the New York Fed's Empire State manufacturing index for January, which slumped to minus 32.9 from minus 11.2 the previous month, hitting the lowest since minus 48.5 in May 2020.
Boston Federal Reserve Bank President Susan Collins will give opening remarks before the Housing, Place, and Flexible Work: The Future of the New England Economy conference at the Federal Reserve Bank of Boston at 9 a.m. EST (1400 GMT).
At 1:15 p.m. EST (1815 GMT), Federal Reserve Vice Chair Lael Brainard will speak on the economic outlook before an event hosted by the University of Chicago Booth School of Business Speech.
New York Federal Reserve Bank President John Williams will participate in a conversation before hybrid event hosted by Fixed Income Analysts Society, Inc. at 6:35 p.m. EST (2335 GMT).
The People's Bank of China is expected to leave its loan prime rates unchanged at 3.65 percent for 1 year and 4.30 percent for 5 years.
Consumer inflation in Japan is forecast to have accelerated sharply in December, with the core measure (excluding fresh food) seen setting a 41-year high of 4.0 percent versus 3.7 percent in November, as more firms raised prices for a wide range of food and beverages and city gas providers continued passing high import costs on to users. The total CPI is seen up 4.1 percent, a 32-year high, after a 3.8 percent gain in November. The underlying inflation rate -- measured by the core-core CPI (excluding fresh food and energy) -- is also seen rising to 3.1 percent, an over 31-year high, from 2.8 percent in the prior month.
The yen has rebounded slightly but remains relatively weak compared to its year-earlier levels, eroding Japan's purchasing power and keeping the costs for importing materials and products high.
The European Central Bank will release the minutes of its Dec. 14-15 meeting at which the Governing Council decided to raise the three key ECB interest rates by 50 basis points, saying interest rates will still have to rise significantly at a steady pace to reach levels that are sufficiently restrictive to ensure a timely return of inflation to the 2 percent medium-term target.
Among US data, December's annualized rates are expected at 1.362 million units for housing starts and 1.380 million for building permits, which would compare with 1.427 million and 1.342 million in November.
Jobless claims for the January 14 week are expected to rise slightly to 215,000 versus 205,000 and 206,000 in the two prior weeks.
The Philadelphia Fed manufacturing index is expected to come in at minus 10.3 in January, picking up from minus 13.8 in December. It follows Tuesday's release of the New York Fed's Empire State manufacturing index for January, which slumped to minus 32.9 from minus 11.2 the previous month, hitting the lowest since minus 48.5 in May 2020.
Boston Federal Reserve Bank President Susan Collins will give opening remarks before the Housing, Place, and Flexible Work: The Future of the New England Economy conference at the Federal Reserve Bank of Boston at 9 a.m. EST (1400 GMT).
At 1:15 p.m. EST (1815 GMT), Federal Reserve Vice Chair Lael Brainard will speak on the economic outlook before an event hosted by the University of Chicago Booth School of Business Speech.
New York Federal Reserve Bank President John Williams will participate in a conversation before hybrid event hosted by Fixed Income Analysts Society, Inc. at 6:35 p.m. EST (2335 GMT).
The People's Bank of China is expected to leave its loan prime rates unchanged at 3.65 percent for 1 year and 4.30 percent for 5 years.
Consumer inflation in Japan is forecast to have accelerated sharply in December, with the core measure (excluding fresh food) seen setting a 41-year high of 4.0 percent versus 3.7 percent in November, as more firms raised prices for a wide range of food and beverages and city gas providers continued passing high import costs on to users. The total CPI is seen up 4.1 percent, a 32-year high, after a 3.8 percent gain in November. The underlying inflation rate -- measured by the core-core CPI (excluding fresh food and energy) -- is also seen rising to 3.1 percent, an over 31-year high, from 2.8 percent in the prior month.
The yen has rebounded slightly but remains relatively weak compared to its year-earlier levels, eroding Japan's purchasing power and keeping the costs for importing materials and products high.
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.
