Highlights
Eurozone industrial production in January is expected to rise 0.5 percent on the month after falling 1.1 percent in December. Consensus for the year-over-year rate is 0.3 percent, following a 1.7 percent decline.
In the US, producer prices in February are forecast to slow to a monthly 0.3 percent after rising a sharper-than-expected 0.7 percent in January. The annual rate in February is seen at 5.4 percent versus January's 6.0 percent. The core measure excluding food and energy costs is seen at 0.4 percent on the month and 5.2 percent on the year in February versus January's 0.5 and 5.4 percent, both of which were also sharper than expected.
Retail sales are expected to fall 0.3 percent on the month in February following January's outsized 3.0 percent surge which, in context, did follow 1.1 percent declines in both the key holiday months of November and December.
The New York Fed's Empire State manufacturing index in March is expected to fall to minus 7.7 after February's strong recovery but still negative reading of minus 5.8.
Business inventories in January are expected to remain unchanged following 0.3 percent builds in both December and November.
The US housing market index rebounded 4 points in January and another 7 points in February but further improvement, given a sharp rise in mortgage rates, is not expected for March where the consensus is a 1 point decline to 41.
In Canada, housing starts are expected to rise slightly to a 220,000 annualized rate in February versus 215,000 in January.
New Zealand's GDP for the October-December quarter is forecast to post 0.2 percent contraction on quarter after 2.0 percent growth in July-September.
Japanese export values are expected to mark only modest growth in February, up 7.7 percent on year, amid slowing global demand, but up from a 3.5% rise in January, when lunar new year holidays distorted trade flows with some parts of Asia. The pace of imports is also seen relatively slow on softer energy markets, up 11.7 percent, after rising 17.8 percent. The trade deficit is estimated at ¥1,074.0 billion, narrowing from a record high deficit of a revised ¥3,498.6 billion in January but widening form a ¥711.5 billion deficit in February 2022.
Japanese machinery orders, the leading indicator of business investment in equipment, are forecast to post a second straight monthly gain, up 1.5 percent in January after a 1.6 percent rebound in December and an 8.3 percent plunge in November, amid prospects for further reopening of the economy. Core private-sector machinery orders, which exclude volatile orders from electric utilities and for ships, are seen down 3.4 percent on year after falling 6.6 percent in December and 3.7 percent in November, which was the first drop in 20 months.
In Australia, at a consensus rise of 50,000, employment is expected to rebound from a 11,700 decline in January. The unemployment rate is expected to fall 1 tenth to 3.6 percent.
In the US, producer prices in February are forecast to slow to a monthly 0.3 percent after rising a sharper-than-expected 0.7 percent in January. The annual rate in February is seen at 5.4 percent versus January's 6.0 percent. The core measure excluding food and energy costs is seen at 0.4 percent on the month and 5.2 percent on the year in February versus January's 0.5 and 5.4 percent, both of which were also sharper than expected.
Retail sales are expected to fall 0.3 percent on the month in February following January's outsized 3.0 percent surge which, in context, did follow 1.1 percent declines in both the key holiday months of November and December.
The New York Fed's Empire State manufacturing index in March is expected to fall to minus 7.7 after February's strong recovery but still negative reading of minus 5.8.
Business inventories in January are expected to remain unchanged following 0.3 percent builds in both December and November.
The US housing market index rebounded 4 points in January and another 7 points in February but further improvement, given a sharp rise in mortgage rates, is not expected for March where the consensus is a 1 point decline to 41.
In Canada, housing starts are expected to rise slightly to a 220,000 annualized rate in February versus 215,000 in January.
New Zealand's GDP for the October-December quarter is forecast to post 0.2 percent contraction on quarter after 2.0 percent growth in July-September.
Japanese export values are expected to mark only modest growth in February, up 7.7 percent on year, amid slowing global demand, but up from a 3.5% rise in January, when lunar new year holidays distorted trade flows with some parts of Asia. The pace of imports is also seen relatively slow on softer energy markets, up 11.7 percent, after rising 17.8 percent. The trade deficit is estimated at ¥1,074.0 billion, narrowing from a record high deficit of a revised ¥3,498.6 billion in January but widening form a ¥711.5 billion deficit in February 2022.
Japanese machinery orders, the leading indicator of business investment in equipment, are forecast to post a second straight monthly gain, up 1.5 percent in January after a 1.6 percent rebound in December and an 8.3 percent plunge in November, amid prospects for further reopening of the economy. Core private-sector machinery orders, which exclude volatile orders from electric utilities and for ships, are seen down 3.4 percent on year after falling 6.6 percent in December and 3.7 percent in November, which was the first drop in 20 months.
In Australia, at a consensus rise of 50,000, employment is expected to rebound from a 11,700 decline in January. The unemployment rate is expected to fall 1 tenth to 3.6 percent.
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.
