Highlights
Inflationary pressures are expected to be easing in Switzerland. The CPI annual rate for February is forecast to at 2.9 percent, slowing from 3.3 percent rate in January, a result that was much higher than expected.
Retail sales in the Eurozone are expected to post a 1.3 percent rebound on the month in January following a 2.7 percent slump in December.
US factory orders are expected to fall 1.8 percent on the month in January, giving up their 1.8 percent gain in December. Durable goods orders for January, which have already been released and are one of two major components of this report, fell 4.5 percent in the month reflecting a monthly downswing for aircraft.
China's trade surplus for the first two months of 2023 is expected to widen to US$88.9 billion from $78.0 billion in December.
In Australia, consensus for goods and services trade in January is a surplus of A$12.7 billion, wider than December's surplus of A$12.2 billion. Exports, down 1.4 percent on the month in December, have fallen for three straight reports.
The Reserve Bank of Australia has lifted its policy rate by 25 basis points at each of its last four meetings and is expected to do so once again at its March meeting, raising it to 3.60 percent from 3.35 percent. The annual consumer inflation rate slowed to 7.4 percent in January from 8.4 percent in December but it is still well above the bank's target range of 2.0 to 3.0 percent.
The RBA 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. After the previous meeting on Feb. 7, Governor Philip Lowe said 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.
Retail sales in the Eurozone are expected to post a 1.3 percent rebound on the month in January following a 2.7 percent slump in December.
US factory orders are expected to fall 1.8 percent on the month in January, giving up their 1.8 percent gain in December. Durable goods orders for January, which have already been released and are one of two major components of this report, fell 4.5 percent in the month reflecting a monthly downswing for aircraft.
China's trade surplus for the first two months of 2023 is expected to widen to US$88.9 billion from $78.0 billion in December.
In Australia, consensus for goods and services trade in January is a surplus of A$12.7 billion, wider than December's surplus of A$12.2 billion. Exports, down 1.4 percent on the month in December, have fallen for three straight reports.
The Reserve Bank of Australia has lifted its policy rate by 25 basis points at each of its last four meetings and is expected to do so once again at its March meeting, raising it to 3.60 percent from 3.35 percent. The annual consumer inflation rate slowed to 7.4 percent in January from 8.4 percent in December but it is still well above the bank's target range of 2.0 to 3.0 percent.
The RBA 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. After the previous meeting on Feb. 7, Governor Philip Lowe said 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.
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.
