Highlights
Among Indian data due at 8 a.m. EDT (1200 GMT), the annual consumer inflation is expected to ease sharply to 5.80 percent in March from 6.44 percent in February. Industrial production is expected to rise 5.2 percent on the year in February, after growing at the same pace in January.
In the US, consumer prices are easing but only at a slow pace. Core prices in March are expected to rise an elevated 0.4 percent on the month versus February's higher-than-expected increase of 0.5 percent. Overall prices are expected to rise 0.3 percent after February's 0.4 percent rise which was no higher than expectations. Annual rates, which in February were 6.0 percent overall and 5.5 percent for the core, are expected at 5.2 and 5.6 percent.
The Federal Reserve Board is expected to continue raising interest rates in May (the last meeting was on March 21-22) to guide inflation lower to its 2 percent target, given tight labor market conditions.
Richmond Federal Reserve Bank President Thomas Barkin will make opening remarks at Investing in Rural America 2023 at 9:10 a.m. EDT (1310 GMT).
The U.S. Treasury statement is forecast to show a $253.0 billion deficit in March that would compare with a $192.7 billion deficit in March a year earlier and a deficit in February this year of $262.4 billion. March is the sixth month of the government's fiscal year.
The Bank of Canada is expected to maintain its policy interest rate -- the target for overnight lending rates -- at 4.50 percent in what its policymakers call a"conditional" pause in the current tightening cycle that began in March last year. The labor market remains tight and economic growth in the first quarter is forecast to post a sharp rebound after being flat at the end of 2022.
BoC officials have said it is too early to discuss normalizing the bank's high policy interest rate because consumer inflation at 5.2 percent remains well above its 2 percent target, although it has eased from its recent peak of 8.1 percent hit last June.
In Australia, the growth in employment is forecast to slow to 21,700 on the month in March from a strong 64,600 gain in February. The unemployment rate is expected to rise 1 tenth to 3.6 percent.
In the US, consumer prices are easing but only at a slow pace. Core prices in March are expected to rise an elevated 0.4 percent on the month versus February's higher-than-expected increase of 0.5 percent. Overall prices are expected to rise 0.3 percent after February's 0.4 percent rise which was no higher than expectations. Annual rates, which in February were 6.0 percent overall and 5.5 percent for the core, are expected at 5.2 and 5.6 percent.
The Federal Reserve Board is expected to continue raising interest rates in May (the last meeting was on March 21-22) to guide inflation lower to its 2 percent target, given tight labor market conditions.
Richmond Federal Reserve Bank President Thomas Barkin will make opening remarks at Investing in Rural America 2023 at 9:10 a.m. EDT (1310 GMT).
The U.S. Treasury statement is forecast to show a $253.0 billion deficit in March that would compare with a $192.7 billion deficit in March a year earlier and a deficit in February this year of $262.4 billion. March is the sixth month of the government's fiscal year.
The Bank of Canada is expected to maintain its policy interest rate -- the target for overnight lending rates -- at 4.50 percent in what its policymakers call a"conditional" pause in the current tightening cycle that began in March last year. The labor market remains tight and economic growth in the first quarter is forecast to post a sharp rebound after being flat at the end of 2022.
BoC officials have said it is too early to discuss normalizing the bank's high policy interest rate because consumer inflation at 5.2 percent remains well above its 2 percent target, although it has eased from its recent peak of 8.1 percent hit last June.
In Australia, the growth in employment is forecast to slow to 21,700 on the month in March from a strong 64,600 gain in February. The unemployment rate is expected to rise 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.
