Highlights
Producer inflation is easing in Germany. The PPI for March is forecast to show a 0.2 percent drop on the month after a 0.3 percent fall in February, with the year-over-year increase seen decelerating to 10.0 percent from 15.8 percent.
In France, the INSEE business climate indicator for the manufacturing sector is seen at 104 for April, unchanged from March, when it fell from 105 in February.
At 7:30 a.m. EDT (1130 GMT/1330 CET), the European Central Bank will release the minutes of its March 16 meeting at which the Governing Council decided to raise the three key ECB interest rates by another 50 basis points, noting that inflation is projected to remain too high for too long. The elevated level of uncertainty reinforces the importance of a data-dependent approach to the Governing Council's policy rate decisions, the ECB said, making no reference to whether rates should be hiked further at its next policy meeting on May 4.
In the Eurozone, consumer confidence in April is expected to improve to minus 18.5 versus March's 2 tenths slip to 19.2 minus, which ended five prior months of improvement.
US initial jobless claims for the April 15 week are expected to come in at 245,000, up from 239,000 in the prior week.
The Philadelphia Fed manufacturing index for April is forecast at minus 19.5, improving from minus 23.2 in March and minus 24.3 in February. It has been in contraction the last seven reports.
Existing home sales in March are expected to ease back to a 4.485 million annualized rate after February's sharp jump to a 4.58 million rate.
The index of US leading economic indicators is expected to fall a further 0.4 percent in March after a 0.3 percent dip in February. This index has been in steady decline and has long been signaling a pending recession.
Federal Reserve Board Governor Christopher Waller will speak on Financial Innovation before the Global Interdependence Center Cryptocurrency and the Future of Global Finance event at 12 p.m. EDT (1600 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will speak on the economic and policy outlook before the Akron Roundtable Signature Series at 12:20 p.m. EDT (1620 GMT).
Dallas Federal Reserve Bank President Lorrie Logan and Federal Reserve Board Governor Michelle Bowman will give opening remarks before a Fed Listens event at 3 p.m. EDT (1900 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will participate in a presentation and armchair discussion on regional and national economic conditions at Eastern Florida State College at 5 p.m. EDT (2100 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before the Samuel Zell and Robert Lurie Real Estate Center Members' Meeting at 7:45 p.m. EDT (2345 GMT).
Japan's consumer inflation is seen stable at just above 3 percent in the total index, up 3.2 percent on year in March versus 3.3 percent in February, and the core measure (excluding fresh food), up 3.1 percent versus 3.1 percent. But the increase in the core-core index, which excludes both fresh food and energy, is set to accelerate further to 3.7 percent from 3.5 percent as food suppliers are still trying to reflect last year's spike in import and producer costs. The upward pressure from processed food and durable goods is more than offsetting the dampening impact of the government's expanded energy subsidies that took effect in January.
In France, the INSEE business climate indicator for the manufacturing sector is seen at 104 for April, unchanged from March, when it fell from 105 in February.
At 7:30 a.m. EDT (1130 GMT/1330 CET), the European Central Bank will release the minutes of its March 16 meeting at which the Governing Council decided to raise the three key ECB interest rates by another 50 basis points, noting that inflation is projected to remain too high for too long. The elevated level of uncertainty reinforces the importance of a data-dependent approach to the Governing Council's policy rate decisions, the ECB said, making no reference to whether rates should be hiked further at its next policy meeting on May 4.
In the Eurozone, consumer confidence in April is expected to improve to minus 18.5 versus March's 2 tenths slip to 19.2 minus, which ended five prior months of improvement.
US initial jobless claims for the April 15 week are expected to come in at 245,000, up from 239,000 in the prior week.
The Philadelphia Fed manufacturing index for April is forecast at minus 19.5, improving from minus 23.2 in March and minus 24.3 in February. It has been in contraction the last seven reports.
Existing home sales in March are expected to ease back to a 4.485 million annualized rate after February's sharp jump to a 4.58 million rate.
The index of US leading economic indicators is expected to fall a further 0.4 percent in March after a 0.3 percent dip in February. This index has been in steady decline and has long been signaling a pending recession.
Federal Reserve Board Governor Christopher Waller will speak on Financial Innovation before the Global Interdependence Center Cryptocurrency and the Future of Global Finance event at 12 p.m. EDT (1600 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will speak on the economic and policy outlook before the Akron Roundtable Signature Series at 12:20 p.m. EDT (1620 GMT).
Dallas Federal Reserve Bank President Lorrie Logan and Federal Reserve Board Governor Michelle Bowman will give opening remarks before a Fed Listens event at 3 p.m. EDT (1900 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will participate in a presentation and armchair discussion on regional and national economic conditions at Eastern Florida State College at 5 p.m. EDT (2100 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before the Samuel Zell and Robert Lurie Real Estate Center Members' Meeting at 7:45 p.m. EDT (2345 GMT).
Japan's consumer inflation is seen stable at just above 3 percent in the total index, up 3.2 percent on year in March versus 3.3 percent in February, and the core measure (excluding fresh food), up 3.1 percent versus 3.1 percent. But the increase in the core-core index, which excludes both fresh food and energy, is set to accelerate further to 3.7 percent from 3.5 percent as food suppliers are still trying to reflect last year's spike in import and producer costs. The upward pressure from processed food and durable goods is more than offsetting the dampening impact of the government's expanded energy subsidies that took effect in January.
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.
