Highlights
Before the European and US markets open on Monday, the Bank of Japan released the outcome of its quarterly Tankan business survey conducted from February 27 until March 31. Confidence among major manufacturers in Japan drifted lower for the fifth straight quarter in March amid global slowdown and elevated costs while the Japanese government's travel discount program and eased Covid border control continued to support sentiment among service providers. Looking ahead, some manufacturers are optimistic about their business climates while many non-manufacturers project a slip in their sentiment for June.
In Switzerland, the annual rate of consumer prices is forecast at 3.2 percent for March, easing slightly from a much higher-than-expected 3.4 percent rise in February.
In the US, the final manufacturing PMI for March is expected to come in at 49.3, unchanged from the mid-month flash to indicate slight contraction.
The index for the US manufacturing sector compiled by the ISM, which shows general direction, is forecast at 47.5 for March, down from 47.7 in February and 47.4 in January. Sector activity was in contraction territory for the fourth straight month in February amid falling production and recovering but still weak new orders while firms largely maintained headcounts on expectations for a pickup in the second half of 2023, although less so than in January.
Flat month in and month out, US construction spending for February is expected to come in unchanged following January's 0.1 percent decline.
The Bank of Canada will release its quarterly business outlook survey. In the last survey released in January, sentiment among companies in Canada declined for the fourth straight quarter in October-December as rising interest rates and the possibility of a recession this year dampened sales expectations and plans to invest while high inflation eroded consumers' spending power.
In South Korea, consumer prices in March, which in February came in at 4.8 percent, are expected to slow to 4.3 percent. The monthly rate is seen at 0.2 percent versus February's 0.3 percent.
In Switzerland, the annual rate of consumer prices is forecast at 3.2 percent for March, easing slightly from a much higher-than-expected 3.4 percent rise in February.
In the US, the final manufacturing PMI for March is expected to come in at 49.3, unchanged from the mid-month flash to indicate slight contraction.
The index for the US manufacturing sector compiled by the ISM, which shows general direction, is forecast at 47.5 for March, down from 47.7 in February and 47.4 in January. Sector activity was in contraction territory for the fourth straight month in February amid falling production and recovering but still weak new orders while firms largely maintained headcounts on expectations for a pickup in the second half of 2023, although less so than in January.
Flat month in and month out, US construction spending for February is expected to come in unchanged following January's 0.1 percent decline.
The Bank of Canada will release its quarterly business outlook survey. In the last survey released in January, sentiment among companies in Canada declined for the fourth straight quarter in October-December as rising interest rates and the possibility of a recession this year dampened sales expectations and plans to invest while high inflation eroded consumers' spending power.
In South Korea, consumer prices in March, which in February came in at 4.8 percent, are expected to slow to 4.3 percent. The monthly rate is seen at 0.2 percent versus February's 0.3 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.
