Highlights
In the UK, overall net borrowing in January is forecast at £2.2 billion, down sharply from £26.58 billion in December.
Business conditions in Europe measured by the purchasing managers' indexes are expected to indicate improvement in flash estimates.
France's composite PMI has been hovering near the 50 line and is expected in February to improve a full point to just above it at 50.1.
Germany's services, at 50.7, emerged from long contraction in January though manufacturing remained decidedly below 50 at 47.3. February's respective expectations are slight improvement for both, to 51.0 and 47.8.
Eurozone services edged into plus-50 positive ground in January to 50.8 with manufacturing improving to 48.8. And further improvement, though slight, is expected in February, at 49.3 for manufacturing and 51.0 for services.
Business activity in the UK has been struggling and is expected to continue to struggle in February, at a consensus 47.5 for manufacturing and 49.3 for services, although those numbers would be slightly higher than 47.3 and 48.7 seen in January.
The ZEW monthly survey of financial experts in Germany is expected to show the index for current economic conditions improved in February to minus 51.0 from minus 58.6 in January. The economic sentiment (expectations) index is also seen rising further to 20.5 from 16.9 in January, when it surged more than 40 points and back into positive territory.
In the US, the PMI's have sunk into contraction, three months in a row for manufacturing and seven months in a row for services. Only the most marginal improvement is expected for February with manufacturing is seen at 47.3 with services at 47.2.
US existing home sales, which have been in contraction, are expected to hold steady in January, at a 4.10 million annualized rate versus December's 4.02 million.
In Canada, consumer prices are expected to rise 0.6 percent on the month in January, reversing the 0.6 percent drop in December. The year-over-year increase is seen decelerating further to 6.1 percent from 6.3 percent in December, 6.8 percent in November and from a recent peak of 8.1 percent in June 2022. The Bank of Canada expects CPI inflation to ease to around 3 percent in the middle of this year and reach the 2 percent target in 2024.
Retail sales in Canada are forecast to rebound 0.5 percent on the month in December, thanks to holiday season shopping demand, following a narrower-than-expected decline of 0.1 percent in November.
The Reserve Bank of New Zealand, following a string of 50-basis-point hikes, accelerated to 75 points at its last meeting in November. Expectations for February's meeting is for a move back to 50 points.
Business conditions in Europe measured by the purchasing managers' indexes are expected to indicate improvement in flash estimates.
France's composite PMI has been hovering near the 50 line and is expected in February to improve a full point to just above it at 50.1.
Germany's services, at 50.7, emerged from long contraction in January though manufacturing remained decidedly below 50 at 47.3. February's respective expectations are slight improvement for both, to 51.0 and 47.8.
Eurozone services edged into plus-50 positive ground in January to 50.8 with manufacturing improving to 48.8. And further improvement, though slight, is expected in February, at 49.3 for manufacturing and 51.0 for services.
Business activity in the UK has been struggling and is expected to continue to struggle in February, at a consensus 47.5 for manufacturing and 49.3 for services, although those numbers would be slightly higher than 47.3 and 48.7 seen in January.
The ZEW monthly survey of financial experts in Germany is expected to show the index for current economic conditions improved in February to minus 51.0 from minus 58.6 in January. The economic sentiment (expectations) index is also seen rising further to 20.5 from 16.9 in January, when it surged more than 40 points and back into positive territory.
In the US, the PMI's have sunk into contraction, three months in a row for manufacturing and seven months in a row for services. Only the most marginal improvement is expected for February with manufacturing is seen at 47.3 with services at 47.2.
US existing home sales, which have been in contraction, are expected to hold steady in January, at a 4.10 million annualized rate versus December's 4.02 million.
In Canada, consumer prices are expected to rise 0.6 percent on the month in January, reversing the 0.6 percent drop in December. The year-over-year increase is seen decelerating further to 6.1 percent from 6.3 percent in December, 6.8 percent in November and from a recent peak of 8.1 percent in June 2022. The Bank of Canada expects CPI inflation to ease to around 3 percent in the middle of this year and reach the 2 percent target in 2024.
Retail sales in Canada are forecast to rebound 0.5 percent on the month in December, thanks to holiday season shopping demand, following a narrower-than-expected decline of 0.1 percent in November.
The Reserve Bank of New Zealand, following a string of 50-basis-point hikes, accelerated to 75 points at its last meeting in November. Expectations for February's meeting is for a move back to 50 points.
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.
