Highlights
German manufacturers' orders in December are expected to rebound a monthly 2.0 percent after collapsing 5.3 percent November.
In the Eurozone, retail sales are forecast to have slumped 2.5 percent on the month in December after rebounding a modest 0.8 percent in November amid rising borrowing costs and elevated inflation. From a year earlier, sales are seen down 2.7 percent following a 2.8 percent drop.
Japan's real household spending is forecast to have posted a modest 0.4 percent drop on the year in December amid a spike in Covid cases after a surprise 1.2 percent slump in November caused by the irregular timing of mobile phone bill payments and mild weather, but expenditures are seen rebounding 0.4 percent on the month as freezing temperatures boosted demand for winter clothing and heating oil. Many households continued spending on domestic travel, using the government's discount program launched in October, while some people were cautious about stepping out as the numbers of Covid infections and deaths rose.
In Australia, consensus for goods and services trade in December is a surplus of A$12.4 billion versus November's surplus of A$13.2 billion.
The Reserve Bank of Australia is scheduled to announce its latest monetary policy decision at 2:30 p.m. AEDT (0330 GMT) Tuesday, which is 10:30 p.m. EST Monday. The RBA is expected to raise its policy rate by another 25 points to 3.35 percent.
At its previous meeting on Dec. 6, the board decided to hike the cash rate by 25 basis points to 3.10 percent, citing domestic inflation was still too high. Governor Philip Lowe said the RBA board expects to increase interest rates further over the period ahead, but it is not on a pre-set course. The minutes showed board members noted a range of options for the cash rate could be considered. The board did not rule out returning to larger increases if the situation warranted, but it is also prepared to keep the cash rate unchanged for a period while it assesses the economy and the inflation outlook.
In the Eurozone, retail sales are forecast to have slumped 2.5 percent on the month in December after rebounding a modest 0.8 percent in November amid rising borrowing costs and elevated inflation. From a year earlier, sales are seen down 2.7 percent following a 2.8 percent drop.
Japan's real household spending is forecast to have posted a modest 0.4 percent drop on the year in December amid a spike in Covid cases after a surprise 1.2 percent slump in November caused by the irregular timing of mobile phone bill payments and mild weather, but expenditures are seen rebounding 0.4 percent on the month as freezing temperatures boosted demand for winter clothing and heating oil. Many households continued spending on domestic travel, using the government's discount program launched in October, while some people were cautious about stepping out as the numbers of Covid infections and deaths rose.
In Australia, consensus for goods and services trade in December is a surplus of A$12.4 billion versus November's surplus of A$13.2 billion.
The Reserve Bank of Australia is scheduled to announce its latest monetary policy decision at 2:30 p.m. AEDT (0330 GMT) Tuesday, which is 10:30 p.m. EST Monday. The RBA is expected to raise its policy rate by another 25 points to 3.35 percent.
At its previous meeting on Dec. 6, the board decided to hike the cash rate by 25 basis points to 3.10 percent, citing domestic inflation was still too high. Governor Philip Lowe said the RBA board expects to increase interest rates further over the period ahead, but it is not on a pre-set course. The minutes showed board members noted a range of options for the cash rate could be considered. The board did not rule out returning to larger increases if the situation warranted, but it is also prepared to keep the cash rate unchanged for a period while it assesses the economy and the inflation outlook.
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.
