Highlights
Eurozone retail sales are expected to show 0.8 percent drop on the month in February, following January's modest 0.3 percent monthly rebound that was well short of expectations and a 1.7 percent slump in December.
In the US, the small business optimism index has been below and often substantially below the historical average of 98 for 14 months in a row. March's consensus is 89.0 versus 90.9 in February.
Chicago Federal Reserve Bank President Austan Goolsbee will speak before the hybrid Economic Club of Chicago Forum Luncheon at 1:30 p.m. (1730 GMT).
Japanese machinery orders, the key leading indicator of business investment in equipment, are expected to post the first drop in three months, down 8.6 percent in the core measure, in reaction to a 9.5 percent jump in January as some firms have turned cautious amid slowing global demand.
Capital investment is generally supported by demand for automation amid labor shortages in some sectors as well as government-led digital transformation and emission control. The Bank of Japan's quarterly Tankan business survey for March released last week showed large firms have solid plans for investment in equipment for fiscal 2023 ending March 2024 while smaller firms projected a rise at the initial stage, which is unusually bullish. Some plans may be carried over from fiscal 2022.
Producer inflation in Japan is expected to have eased for the third straight month in March as the government's expanded utilities subsidies continued to cap energy costs and slowing global demand has cooled off commodities markets while food suppliers continue to pass higher costs onto customers. The corporate goods price index is seen up 7.2 percent on the year for a 25th consecutive gain following increases of 8.2 percent in February and 9.5 percent in January. December's 10.5 percent rise is a 42-year high.
In the US, the small business optimism index has been below and often substantially below the historical average of 98 for 14 months in a row. March's consensus is 89.0 versus 90.9 in February.
Chicago Federal Reserve Bank President Austan Goolsbee will speak before the hybrid Economic Club of Chicago Forum Luncheon at 1:30 p.m. (1730 GMT).
Japanese machinery orders, the key leading indicator of business investment in equipment, are expected to post the first drop in three months, down 8.6 percent in the core measure, in reaction to a 9.5 percent jump in January as some firms have turned cautious amid slowing global demand.
Capital investment is generally supported by demand for automation amid labor shortages in some sectors as well as government-led digital transformation and emission control. The Bank of Japan's quarterly Tankan business survey for March released last week showed large firms have solid plans for investment in equipment for fiscal 2023 ending March 2024 while smaller firms projected a rise at the initial stage, which is unusually bullish. Some plans may be carried over from fiscal 2022.
Producer inflation in Japan is expected to have eased for the third straight month in March as the government's expanded utilities subsidies continued to cap energy costs and slowing global demand has cooled off commodities markets while food suppliers continue to pass higher costs onto customers. The corporate goods price index is seen up 7.2 percent on the year for a 25th consecutive gain following increases of 8.2 percent in February and 9.5 percent in January. December's 10.5 percent rise is a 42-year high.
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.
