Highlights
Inflationary pressures in Germany remain high. The consensus for January's delayed provisional CPI report is a 9.1 percent year-over-year rate versus 8.6 percent in December. The CPI is seen up 1.0 percent on the month in January after a 0.8 percent drop in December.
In the US, initial jobless claims for the February 4 week are expected to come in at 192,000 versus 183,000 in the prior week which was once again lower than expected.
Producer inflation in Japan remains elevated on surging utility charges and a widespread move among firms to reflect high costs, but the pace of year-over-year increase is forecast to have decelerated to 9.6 percent in January from 10.2 percent in December amid easing commodity markets and a modest rebound in the yen's value. The 10.3 percent rise in September 2022 is the highest in 41 years. On the month, the corporate goods price index (CGPI) is seen up 0.3 percent after rising 0.5% in December and slowing from the recent peak of a 1.6% rise hit in April 2022.
The Reserve Bank of Australia will publish its quarterly Statement on Monetary Policy providing updated economic forecasts at 11:30 a.m. AEDT (0030 GMT) Friday, which is 7:30 p.m. EST Thursday.
It follows the RBA board's decision on Tuesday to raise its policy rate by another 25 points to 3.35 percent. The board expects that further increases in interest rates will be needed over the months ahead to ensure that inflation returns to target and that this period of high inflation is only temporary.
China's consumer price index is forecast to have risen 2.2 percent on the year in January after a 1.8 percent rise in December, which was 1 tenth lower than expected. China's CPI has come in below Econoday's consensus the last three reports.
Producer prices in China have been in contraction the last three reports. January's consensus is minus 0.5 percent on the year versus minus 0.7 percent in December.
In the US, initial jobless claims for the February 4 week are expected to come in at 192,000 versus 183,000 in the prior week which was once again lower than expected.
Producer inflation in Japan remains elevated on surging utility charges and a widespread move among firms to reflect high costs, but the pace of year-over-year increase is forecast to have decelerated to 9.6 percent in January from 10.2 percent in December amid easing commodity markets and a modest rebound in the yen's value. The 10.3 percent rise in September 2022 is the highest in 41 years. On the month, the corporate goods price index (CGPI) is seen up 0.3 percent after rising 0.5% in December and slowing from the recent peak of a 1.6% rise hit in April 2022.
The Reserve Bank of Australia will publish its quarterly Statement on Monetary Policy providing updated economic forecasts at 11:30 a.m. AEDT (0030 GMT) Friday, which is 7:30 p.m. EST Thursday.
It follows the RBA board's decision on Tuesday to raise its policy rate by another 25 points to 3.35 percent. The board expects that further increases in interest rates will be needed over the months ahead to ensure that inflation returns to target and that this period of high inflation is only temporary.
China's consumer price index is forecast to have risen 2.2 percent on the year in January after a 1.8 percent rise in December, which was 1 tenth lower than expected. China's CPI has come in below Econoday's consensus the last three reports.
Producer prices in China have been in contraction the last three reports. January's consensus is minus 0.5 percent on the year versus minus 0.7 percent 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.
