Highlights
In the UK labour market report, the ILO unemployment rate for the three months to March is forecast to hold steady at 3.8 percent.
The ZEW monthly survey of financial experts in Germany is likely to show a slip in sentiment. The index for the current conditions is expected to fall in May to minus 35.3 versus April's minus 32.5. The economic sentiment (expectations) index is also seen falling to minus 5.0 after April's sharp drop to plus 4.1.
US retail sales are expected to rise 0.7 percent on the month in April following a 1.0 percent drop in March, which, in broad declines, was led by declines in autos and gasoline.
Industrial production is expected to come in unchanged in April after March's 0.4 percent increase that was boosted by utilities output. Manufacturing output is seen up 0.1 percent after falling 0.5 percent in March.
Business inventories in March are expected to stall, being unchanged following a 0.2 percent build in February.
The US housing market index has been stabilizing following last year's steep declines. After April's 1-point gain to 45, May's consensus is no change at 45.
In Canada, inflation has been easing in recent months, with the total consumer price index forecast to post a 4.0 percent rise on the year after March's as-expected 4.3 percent rate, which was down substantially from February's 5.2 percent and the recent peak of 8.1 percent in June 2022.
Manufacturing sales in Canada, which have been swinging back and forth along a declining trend, are expected to rise 0.7 percent on the month in March after falling 3.6 percent in February.
Cleveland Federal Reserve Bank President Loretta Mester will speak in person before the Global Interdependence Center Central Banking Series: Dublin event at 8:15 a.m. EDT (1215 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will give Welcome Back remarks before the Federal Reserve Bank of Atlanta 2023 Financial Markets Conference at 8:55 a.m. EDT (1255 GMT). Bostic and Federal Reserve Bank of Chicago President Austan Goolsbee will participate in the Economic Outlook and Monetary Policy panel at 7 p.m. EDT (2300 GMT).
At the conference, Dallas Federal Reserve Bank President Lorrie Logan will moderate the Policy Session 4: Mitigating Risks and Preserving Financial Stability in an Appropriately Restrictive Policy Environment at 3:15 p.m. EDT (1915 GMT).
New York Federal Reserve Bank President John Williams will participate in a conversation organized by the University of the Virgin Islands at 12:15 p.m. EDT (1615 GMT).
Japan's gross domestic product for the January-March quarter is forecast to post a modest 0.2 percent rebound on quarter, or an annualized 0.6 percent rise, as exports and business investment lost some steam amid slowing global growth while widely eased Covid public health rules mitigated the impact of elevated costs for daily necessities on consumer spending. The expected slight rebound in the Q1 GDP would follow zero growth on quarter, or an annualized 0.1 percent increase, in the final quarter of 2022, when a large drop in private-sector inventories pushed down domestic demand.
Australia's wage growth is expected to show increasing pressure in the first quarter, rising 0.9 percent on the quarter and 3.6 percent on the year. These would compare with fourth-quarter rates of 0.8 and 3.3 percent.
The ZEW monthly survey of financial experts in Germany is likely to show a slip in sentiment. The index for the current conditions is expected to fall in May to minus 35.3 versus April's minus 32.5. The economic sentiment (expectations) index is also seen falling to minus 5.0 after April's sharp drop to plus 4.1.
US retail sales are expected to rise 0.7 percent on the month in April following a 1.0 percent drop in March, which, in broad declines, was led by declines in autos and gasoline.
Industrial production is expected to come in unchanged in April after March's 0.4 percent increase that was boosted by utilities output. Manufacturing output is seen up 0.1 percent after falling 0.5 percent in March.
Business inventories in March are expected to stall, being unchanged following a 0.2 percent build in February.
The US housing market index has been stabilizing following last year's steep declines. After April's 1-point gain to 45, May's consensus is no change at 45.
In Canada, inflation has been easing in recent months, with the total consumer price index forecast to post a 4.0 percent rise on the year after March's as-expected 4.3 percent rate, which was down substantially from February's 5.2 percent and the recent peak of 8.1 percent in June 2022.
Manufacturing sales in Canada, which have been swinging back and forth along a declining trend, are expected to rise 0.7 percent on the month in March after falling 3.6 percent in February.
Cleveland Federal Reserve Bank President Loretta Mester will speak in person before the Global Interdependence Center Central Banking Series: Dublin event at 8:15 a.m. EDT (1215 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will give Welcome Back remarks before the Federal Reserve Bank of Atlanta 2023 Financial Markets Conference at 8:55 a.m. EDT (1255 GMT). Bostic and Federal Reserve Bank of Chicago President Austan Goolsbee will participate in the Economic Outlook and Monetary Policy panel at 7 p.m. EDT (2300 GMT).
At the conference, Dallas Federal Reserve Bank President Lorrie Logan will moderate the Policy Session 4: Mitigating Risks and Preserving Financial Stability in an Appropriately Restrictive Policy Environment at 3:15 p.m. EDT (1915 GMT).
New York Federal Reserve Bank President John Williams will participate in a conversation organized by the University of the Virgin Islands at 12:15 p.m. EDT (1615 GMT).
Japan's gross domestic product for the January-March quarter is forecast to post a modest 0.2 percent rebound on quarter, or an annualized 0.6 percent rise, as exports and business investment lost some steam amid slowing global growth while widely eased Covid public health rules mitigated the impact of elevated costs for daily necessities on consumer spending. The expected slight rebound in the Q1 GDP would follow zero growth on quarter, or an annualized 0.1 percent increase, in the final quarter of 2022, when a large drop in private-sector inventories pushed down domestic demand.
Australia's wage growth is expected to show increasing pressure in the first quarter, rising 0.9 percent on the quarter and 3.6 percent on the year. These would compare with fourth-quarter rates of 0.8 and 3.3 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.
