Highlights
Among US data, initial jobless claims for the May 13 week are expected to fall back to 255,000 after rising a steep 22,000 to 264,000 in the prior week.
The Philadelphia Fed manufacturing index has been in contraction the last nine reports and very deeply so in April at minus 31.3. May's contraction is seen at minus 20.0.
After March's fall to a 4.440 million annualized rate, existing home sales in April are expected to fall further to a 4.295 million rate.
The index of US leading economic indicators, which plunged 1.2 percent in March, is expected to fall a further 0.6 percent in April. This index has been in sharp decline and has long been signaling a pending recession.
Federal Reserve Board Governor Philip Jefferson will speak on the economic outlook before the National Association of Insurance Commissioners (NAIC) International Insurance Forum at 9:05 a.am. EDT (1305 GMT).
Dallas Federal Reserve Bank President Lorrie Logan will speak before the Texas Bankers Association 138th Annual Convention at 10:00 a.am. EDT (1400 GMT).
Consumer inflation in Japan is seen picking up again in April in both the total and core indexes as processed food and durable goods suppliers continue raising prices to reflect elevated costs, outpacing the effects of utility subsidies. The year-over-year increase in the total consumer price index is forecast at 3.5 percent, up from 3.2 percent in March, while the core CPI (excluding fresh food) is seen up 3.4 percent versus 3.1 percent the previous month. The underlying inflation rate -- measured by the core-core CPI (excluding fresh food and energy) -- is expected to post an accelerated 4.2 percent versus 3.8 percent.
The Philadelphia Fed manufacturing index has been in contraction the last nine reports and very deeply so in April at minus 31.3. May's contraction is seen at minus 20.0.
After March's fall to a 4.440 million annualized rate, existing home sales in April are expected to fall further to a 4.295 million rate.
The index of US leading economic indicators, which plunged 1.2 percent in March, is expected to fall a further 0.6 percent in April. This index has been in sharp decline and has long been signaling a pending recession.
Federal Reserve Board Governor Philip Jefferson will speak on the economic outlook before the National Association of Insurance Commissioners (NAIC) International Insurance Forum at 9:05 a.am. EDT (1305 GMT).
Dallas Federal Reserve Bank President Lorrie Logan will speak before the Texas Bankers Association 138th Annual Convention at 10:00 a.am. EDT (1400 GMT).
Consumer inflation in Japan is seen picking up again in April in both the total and core indexes as processed food and durable goods suppliers continue raising prices to reflect elevated costs, outpacing the effects of utility subsidies. The year-over-year increase in the total consumer price index is forecast at 3.5 percent, up from 3.2 percent in March, while the core CPI (excluding fresh food) is seen up 3.4 percent versus 3.1 percent the previous month. The underlying inflation rate -- measured by the core-core CPI (excluding fresh food and energy) -- is expected to post an accelerated 4.2 percent versus 3.8 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.
