Highlights
In Switzerland's SVME purchasing managers' index data, the headline index is seen at 53.2 for January, down from December's 54.1.
No revisions are expected to the January manufacturing sector PMIs for the key European economies: 50.8 for France, 47.0 for Germany, 48.8 for the Eurozone and 46.7 (versus 45.3 in December) for the UK.
Inflationary pressures persist in the region. The flash harmonised index of consumer prices (HICP) for the Eurozone is forecast to show a 9.1 percent rise on the year in January, down slightly from 9.2 percent in December. The narrow core is seen up 5.1 percent, compared to 5.2 percent the previous month.
The Eurozone unemployment rate is expected to be unchanged at 6.5 percent in December.
In Italy, the year-over-year increase in consumer prices is expected to decelerate to 10.4 percent in January from 11.6 percent in December.
In the US, ADP's January employment number is seen at 158,000. This would compare with December growth in private payrolls reported by the Bureau of Labor Statistics of 220,000. ADP's number for December was 235,000.
US manufacturing activity is expected to remain in contraction territory in January amid uncertainty over economic growth and the effects of higher borrowing costs. The Institute for Supply Management's key index is forecast at 48.0, down from 48.4 in December, 49.0 in November and 50.2 in October.
After edging 0.2 percent higher in November, construction spending for December is expected to slip 0.1 percent. Spending has been flat in recent months as gains in non-residential construction have been offset by declines on the residential side.
The Labor Department's JOLTS report is forecast to show job openings, which have been steady to lower, fell to 10.2 million in December from 10.458 million in November.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is expected to raise the target range for the federal funds rate by 25 basis points to a range of 4.50 to 4.75 percent, slowing the pace of its tightening from 50 basis points in December and 75-point hikes conducted previously amid easing inflationary pressures.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EST (1930 GMT).
No revisions are expected to the January manufacturing sector PMIs for the key European economies: 50.8 for France, 47.0 for Germany, 48.8 for the Eurozone and 46.7 (versus 45.3 in December) for the UK.
Inflationary pressures persist in the region. The flash harmonised index of consumer prices (HICP) for the Eurozone is forecast to show a 9.1 percent rise on the year in January, down slightly from 9.2 percent in December. The narrow core is seen up 5.1 percent, compared to 5.2 percent the previous month.
The Eurozone unemployment rate is expected to be unchanged at 6.5 percent in December.
In Italy, the year-over-year increase in consumer prices is expected to decelerate to 10.4 percent in January from 11.6 percent in December.
In the US, ADP's January employment number is seen at 158,000. This would compare with December growth in private payrolls reported by the Bureau of Labor Statistics of 220,000. ADP's number for December was 235,000.
US manufacturing activity is expected to remain in contraction territory in January amid uncertainty over economic growth and the effects of higher borrowing costs. The Institute for Supply Management's key index is forecast at 48.0, down from 48.4 in December, 49.0 in November and 50.2 in October.
After edging 0.2 percent higher in November, construction spending for December is expected to slip 0.1 percent. Spending has been flat in recent months as gains in non-residential construction have been offset by declines on the residential side.
The Labor Department's JOLTS report is forecast to show job openings, which have been steady to lower, fell to 10.2 million in December from 10.458 million in November.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is expected to raise the target range for the federal funds rate by 25 basis points to a range of 4.50 to 4.75 percent, slowing the pace of its tightening from 50 basis points in December and 75-point hikes conducted previously amid easing inflationary pressures.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EST (1930 GMT).
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.
