Highlights
In Switzerland, the unemployment rate is seen unchanged at 1.9 percent in May.
German industrial production in April is expected to rise 1.0 percent on the month following March's unexpectedly weak 3.4 percent monthly slump. The year-over-year comparison is seen slowing from 1.6 percent to 1.4 percent growth.
The UK Halifax house price index forecast to be unchanged in May after a 0.3 percent monthly fall in April.
Italian retail sales are expected to slip 0.2 percent on the month after a flat reading in March.
In the US, a deficit of $76.0 billion is expected in April for total goods and services trade, which would compare with a $64.2 billion deficit in March. Advance data on the goods side of April's report showed a very large $12.1 billion deepening in the deficit.
Consumer credit is expected to increase $21.0 billion in April versus an increase of $26.5 billion in March. This report has come in below the consensus the last three months.
In Canada, April's trade balance is seen in surplus of C$0.6 billion versus March's surplus of just under C$1.0 billion.
The Bank of Canada is expected to leave its policy interest rate -- the target for overnight lending rates -- unchanged at 4.50 percent for the third consecutive meeting in a conditional pause during the current tightening cycle that began in March last year aimed at bringing elevated inflation back to target.
But given above-target inflation and tight labor market conditions, the bank is expected to maintain its tightening bias, reminding that it is prepared to act if necessary, and will consider conducting a 25-basis point rate hike in July after digesting more economic data.
Japan's solid economic growth in the January-March quarter is forecast to be revised up slightly to 0.5 percent on quarter, or an annualized 1.9 percent, from the initial reading of 0.4 percent and 1.6 percent. Business investment in equipment is likely to be revised up to a 1.3 percent rise on quarter from an initial 0.9 percent in light of strong quarterly business survey results released by the Ministry of Finance last week. The increase in public works spending is expected to be revised down to 2.1 percent from 2.4 percent but its positive contribution is seen little changed.
In Australia, consensus for goods and services trade in April is a surplus of A$14.0 billion versus March's surplus of A$15.269 billion, a report that saw rebounds for both imports and especially exports.
German industrial production in April is expected to rise 1.0 percent on the month following March's unexpectedly weak 3.4 percent monthly slump. The year-over-year comparison is seen slowing from 1.6 percent to 1.4 percent growth.
The UK Halifax house price index forecast to be unchanged in May after a 0.3 percent monthly fall in April.
Italian retail sales are expected to slip 0.2 percent on the month after a flat reading in March.
In the US, a deficit of $76.0 billion is expected in April for total goods and services trade, which would compare with a $64.2 billion deficit in March. Advance data on the goods side of April's report showed a very large $12.1 billion deepening in the deficit.
Consumer credit is expected to increase $21.0 billion in April versus an increase of $26.5 billion in March. This report has come in below the consensus the last three months.
In Canada, April's trade balance is seen in surplus of C$0.6 billion versus March's surplus of just under C$1.0 billion.
The Bank of Canada is expected to leave its policy interest rate -- the target for overnight lending rates -- unchanged at 4.50 percent for the third consecutive meeting in a conditional pause during the current tightening cycle that began in March last year aimed at bringing elevated inflation back to target.
But given above-target inflation and tight labor market conditions, the bank is expected to maintain its tightening bias, reminding that it is prepared to act if necessary, and will consider conducting a 25-basis point rate hike in July after digesting more economic data.
Japan's solid economic growth in the January-March quarter is forecast to be revised up slightly to 0.5 percent on quarter, or an annualized 1.9 percent, from the initial reading of 0.4 percent and 1.6 percent. Business investment in equipment is likely to be revised up to a 1.3 percent rise on quarter from an initial 0.9 percent in light of strong quarterly business survey results released by the Ministry of Finance last week. The increase in public works spending is expected to be revised down to 2.1 percent from 2.4 percent but its positive contribution is seen little changed.
In Australia, consensus for goods and services trade in April is a surplus of A$14.0 billion versus March's surplus of A$15.269 billion, a report that saw rebounds for both imports and especially exports.
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.
