Highlights
Before the European and US markets open, the Reserve Bank of India is expected to announce its monetary policy decision at 10 a.m. in Mumbai Thursday (12:30 a.m. EDT/0430 GMT).
The RBI is expected to hold rates steady after its Monetary Policy Committee decided unanimously to leave its policy rate unchanged at 6.50 percent at its April meeting, following a 25-poitn hike in February (in a 4-to-2 vote), a 35-point rise in December and 50-point increases at the previous three meetings. RBI officials are monitoring the effects of their tightening while closely monitoring the evolving inflation outlook.
For the Eurozone, no revision is expected to the first quarter GDP flash data, leaving quarterly growth at 0.1 and the annual rate at 1.3 percent. However, a sizeable negative revision to Germany makes for downside risk.
Among US data, new jobless claims for the June 3 week are expected to rise to 235,500 from 232,000 in the prior week.
The second estimate for April wholesale inventories is a 0.2 percent decline, unchanged from the first estimate.
Consumer inflation remains subdued in China. Forecasters see a 0.2 percent year-over-year rate in May versus 0.1 percent in April, the lowest level in more than two years. China's CPI has come in below Econoday's consensus the last seven reports and has not exceeded the consensus since July last year.
Chinese producer prices in have been in contraction the last seven reports. May's consensus is minus 4.2 percent on the year versus minus 3.6 percent in April.
The RBI is expected to hold rates steady after its Monetary Policy Committee decided unanimously to leave its policy rate unchanged at 6.50 percent at its April meeting, following a 25-poitn hike in February (in a 4-to-2 vote), a 35-point rise in December and 50-point increases at the previous three meetings. RBI officials are monitoring the effects of their tightening while closely monitoring the evolving inflation outlook.
For the Eurozone, no revision is expected to the first quarter GDP flash data, leaving quarterly growth at 0.1 and the annual rate at 1.3 percent. However, a sizeable negative revision to Germany makes for downside risk.
Among US data, new jobless claims for the June 3 week are expected to rise to 235,500 from 232,000 in the prior week.
The second estimate for April wholesale inventories is a 0.2 percent decline, unchanged from the first estimate.
Consumer inflation remains subdued in China. Forecasters see a 0.2 percent year-over-year rate in May versus 0.1 percent in April, the lowest level in more than two years. China's CPI has come in below Econoday's consensus the last seven reports and has not exceeded the consensus since July last year.
Chinese producer prices in have been in contraction the last seven reports. May's consensus is minus 4.2 percent on the year versus minus 3.6 percent in April.
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.
