Highlights
In European PMIs, no revisions are expected to the April flash data, leaving the composite output indexes at 53.9 for France (up from March's final 52.6), 53.9 for Germany (up from 52.6) and 54.4 for the Eurozone (up from 53.7). In the UK, no revisions are expected for the composite output index at 53.9, up from March's final 52.2, and the services PMI at 54.9, up from 52.9.
Eurozone producer prices are expected to fall 1.7 percent on the month in March for annual growth of 6.2 percent, the latter would be less than half of February's 13.2 percent.
At 8:15 a.m. EDT (1415 CET/1215 GMT), the European Central Bank will release its monetary policy decision. Despite global banking worries, the ECB in March stuck to its guidance and raised rates by a full 50 basis points. There was no forward guidance for May's meeting but the consensus is a 25-basis-point hike, with 50 basis points seen as the most likely alternative.
ECB President Christine Lagarde will hold a post-meeting news conference at 9 a.m. EDT (1500 CET/1300 GMT).
In the US, a deficit of $63.7 billion is expected in March for total goods and services trade, which would compare with a $70.5 billion deficit in February. Advance data on the goods side of March's report showed a $7.4 billion narrowing in the deficit.
Initial jobless claims for the April 29 are expected to come in at 238,000, up from 230,000 in the prior week.
US nonfarm productivity is expected to show no growth in the first quarter after posting an annualized 1.7 increase in the fourth quarter. Unit labor costs, which rose 3.2 percent in the fourth quarter, are expected to show an accelerated rate of 3.9 percent in the first quarter.
In Canada, the trade balance is forecast to record a deficit of C$200 billion in March, compared to an as-expected February surplus of C$422 million and a C$1.2 billion surplus in January.
Eurozone producer prices are expected to fall 1.7 percent on the month in March for annual growth of 6.2 percent, the latter would be less than half of February's 13.2 percent.
At 8:15 a.m. EDT (1415 CET/1215 GMT), the European Central Bank will release its monetary policy decision. Despite global banking worries, the ECB in March stuck to its guidance and raised rates by a full 50 basis points. There was no forward guidance for May's meeting but the consensus is a 25-basis-point hike, with 50 basis points seen as the most likely alternative.
ECB President Christine Lagarde will hold a post-meeting news conference at 9 a.m. EDT (1500 CET/1300 GMT).
In the US, a deficit of $63.7 billion is expected in March for total goods and services trade, which would compare with a $70.5 billion deficit in February. Advance data on the goods side of March's report showed a $7.4 billion narrowing in the deficit.
Initial jobless claims for the April 29 are expected to come in at 238,000, up from 230,000 in the prior week.
US nonfarm productivity is expected to show no growth in the first quarter after posting an annualized 1.7 increase in the fourth quarter. Unit labor costs, which rose 3.2 percent in the fourth quarter, are expected to show an accelerated rate of 3.9 percent in the first quarter.
In Canada, the trade balance is forecast to record a deficit of C$200 billion in March, compared to an as-expected February surplus of C$422 million and a C$1.2 billion surplus 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.
