Highlights
In Switzerland, the seasonally adjusted rate is expected to remain steady at 1.9 percent in January.
Germany's industrial production in December is expected to show a 0.6 percent fall on the month following a modest, but expectations-beating, 0.2 percent rise in November. The year-over-year comparison is seen falling 7 tenths deeper into contraction at minus 1.2 percent.
The UK Halifax house price index is expected to post a fifth straight month-over-month drop in January amid rising interest rates, but the pace of decline is seen slowing to 0.5 percent from 1.5 percent in December and 2.4 percent in November. The annual rate of increase decelerated to 2.0 percent in December from 4.6 percent in November and seven months of digit percentage gains through September.
In the US, a deficit of $68.8 billion is expected in December for goods and services trade, widening from a $61.5 billion deficit in November. Advance data on the goods side of December's report showed a $7.4 billion deepening in the deficit.
US consumer credit is expected to have increased $25.0 billion on the month in December after rising $27.9 billion in November.
Canada's merchandise trade balance is seen at a C$0.2 billion deficit for December versus a marginal November deficit of $0.04 billion.
At 12:40 p.m. EST (1740 GMT), Federal Reserve Chairman Jerome Powell will participate in a conversation hosted by the Economic Club of Washington, following the Federal Market Open Committee's decision last week to raise the fed funds target range by 25 basis points to a range of 4.50 to 4.75 percent, slowing the pace of its tightening as expected. The Fed is expected to raise rates further as the US labor market remains tight.
Federal Reserve Vice Chair for Supervision Michael Barr will speak on Financial Inclusion before the Banking on Financial Inclusion HOPE Economic Mobility Forum at 2 p.m. EST (1900 GMT).
Bank of Canada Governor Tiff Macklem will speak on how monetary policy works before the CFA Québec. His speech will be released at 12:30 p.m. EST (1730 GMT).
Last month, the bank raised its policy interest rate by 25 basis points to 4.50 percent, as expected, in an eighth consecutive hike in the tightening phase that began in March. It is expected to hold its policy stance steady for now.
The Reserve Bank of India is forecast to hike its policy interest rate by 25 basis points to 6.50 percent, with inflation still running above target, at 5.72 percent in December. In 2022, the bank raised its benchmark repurchase rate by a total of 225 basis points and by 35 basis points at its last meeting in December.
Germany's industrial production in December is expected to show a 0.6 percent fall on the month following a modest, but expectations-beating, 0.2 percent rise in November. The year-over-year comparison is seen falling 7 tenths deeper into contraction at minus 1.2 percent.
The UK Halifax house price index is expected to post a fifth straight month-over-month drop in January amid rising interest rates, but the pace of decline is seen slowing to 0.5 percent from 1.5 percent in December and 2.4 percent in November. The annual rate of increase decelerated to 2.0 percent in December from 4.6 percent in November and seven months of digit percentage gains through September.
In the US, a deficit of $68.8 billion is expected in December for goods and services trade, widening from a $61.5 billion deficit in November. Advance data on the goods side of December's report showed a $7.4 billion deepening in the deficit.
US consumer credit is expected to have increased $25.0 billion on the month in December after rising $27.9 billion in November.
Canada's merchandise trade balance is seen at a C$0.2 billion deficit for December versus a marginal November deficit of $0.04 billion.
At 12:40 p.m. EST (1740 GMT), Federal Reserve Chairman Jerome Powell will participate in a conversation hosted by the Economic Club of Washington, following the Federal Market Open Committee's decision last week to raise the fed funds target range by 25 basis points to a range of 4.50 to 4.75 percent, slowing the pace of its tightening as expected. The Fed is expected to raise rates further as the US labor market remains tight.
Federal Reserve Vice Chair for Supervision Michael Barr will speak on Financial Inclusion before the Banking on Financial Inclusion HOPE Economic Mobility Forum at 2 p.m. EST (1900 GMT).
Bank of Canada Governor Tiff Macklem will speak on how monetary policy works before the CFA Québec. His speech will be released at 12:30 p.m. EST (1730 GMT).
Last month, the bank raised its policy interest rate by 25 basis points to 4.50 percent, as expected, in an eighth consecutive hike in the tightening phase that began in March. It is expected to hold its policy stance steady for now.
The Reserve Bank of India is forecast to hike its policy interest rate by 25 basis points to 6.50 percent, with inflation still running above target, at 5.72 percent in December. In 2022, the bank raised its benchmark repurchase rate by a total of 225 basis points and by 35 basis points at its last meeting in December.
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.
