Highlights
Among key US data, the Case-Shiller home price index is forecast to show the adjusted 20-city monthly rate fell 0.4 percent in February to match a 0.4 percent decrease in January for an unadjusted annual rate of no change following a 2.5 percent gain.
The Conference Board's consumer confidence index has been steady and subdued, rising slightly to 104.2 in March from 103.4 in February. The consensus forecast for April is no change at 104.2. Driven by an uptick in expectations, consumer confidence improved somewhat in March, but remains below the average level seen in 2022 (104.5), the Conference Board said last month.
After a small uptick to a 640,000 annualized rate in February, US new home sales in March are expected to slip back marginally to 635,000.
In Australia, consumer inflation is expected to ease slightly to 6.6 percent in March from 6.8 percent in February, which was down from 7.4 percent in January and less severe than expected.
In the January-March quarter, the Australian CPI is forecast to post a slower pace of increase at 1.3 percent on quarter following a 1.9 percent rise. From a year earlier, the CPI in the first quarter is seen decelerating to 6.9 percent from 7.8 percent in the final quarter of 2022.
At its April 4 meeting, the Reserve Bank of Australia board decided to leave the cash rate target unchanged at 3.60 percent, following a cumulative increase in interest rates of 3.5 percentage points since May last year. The bank decided to provide additional time to assess the impact of the increase in interest rates to date and the economic outlook as the full impact of monetary policy action emerges with a lag.
The Conference Board's consumer confidence index has been steady and subdued, rising slightly to 104.2 in March from 103.4 in February. The consensus forecast for April is no change at 104.2. Driven by an uptick in expectations, consumer confidence improved somewhat in March, but remains below the average level seen in 2022 (104.5), the Conference Board said last month.
After a small uptick to a 640,000 annualized rate in February, US new home sales in March are expected to slip back marginally to 635,000.
In Australia, consumer inflation is expected to ease slightly to 6.6 percent in March from 6.8 percent in February, which was down from 7.4 percent in January and less severe than expected.
In the January-March quarter, the Australian CPI is forecast to post a slower pace of increase at 1.3 percent on quarter following a 1.9 percent rise. From a year earlier, the CPI in the first quarter is seen decelerating to 6.9 percent from 7.8 percent in the final quarter of 2022.
At its April 4 meeting, the Reserve Bank of Australia board decided to leave the cash rate target unchanged at 3.60 percent, following a cumulative increase in interest rates of 3.5 percentage points since May last year. The bank decided to provide additional time to assess the impact of the increase in interest rates to date and the economic outlook as the full impact of monetary policy action emerges with a lag.
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.
