Highlights
In Switzerland, producer and import prices are expected to edge up 0.1 percent on the month after a 0.2 percent rise in April.
For the French consumer price index for May, no revision is expected, leaving a 0.1 percent monthly decline and a 5.1 percent annual inflation rate, the latter down from April's final 5.9 percent.
The European Central Bank, fighting against stubbornly high underlying inflation, is expected to raise rates by 25 basis points. This would follow a 25-point move in May that followed three consecutive 50-point moves and before that back-to-back 75-point hikes.
Taiwan's central bank will announce its quarterly monetary policy decision on Thursday evening local time, or early morning in the US. The Central Bank of the Republic of China is expected to leave its policy rate at 1.875 percent on easing consumer inflation after unexpectedly raising it by 12.5 basis points in March.
In the US, new jobless claims for the June 10 week are expected to ease back to 250,000 versus the prior week's outsized 28,000 jump to 261,000.
The Philadelphia Fed manufacturing index has been in contraction the last 10 reports, at minus 10.4 in May, with June's consensus at minus 13.2.
May retail sales are expected to come in unchanged versus April's 0.4 percent rise in a report that, like the headline, proved moderate overall. Only marginal to modest gains are expected for the core readings.
Following May's wild downswing to minus 31.8 from April's plus 10.8, the Empire State manufacturing index is expected to roughly split the difference, at minus 15.1 in June.
US import prices rose 0.4 percent in April, ending nine straight declines which, however, are expected to resume in May where the consensus is a 0.6 percent fall. Export prices, which rose 0.2 percent in April, are also expected to fall back, at a consensus 0.5 percent.
Industrial production is expected to edge 0.1 percent higher in May after April's 0.5 percent increase that was boosted by manufacturing output which jumped a surprising 1.0 percent. Manufacturing in May is seen up 0.2 percent.
Business inventories in April are expected to rise 0.2 percent following a percent 0.1 decline in March.
Canada's manufacturing sales, which have been swinging back and forth along a declining trend, are expected to fall back 0.2 percent in April after rising 0.7 percent in March.
The Bank of Japan's policy board is expected to vote unanimously to maintain its monetary easing stance, keeping its zero to slightly negative interest rate targets along the yield curve and relatively large asset purchases to continue seeking stable 2 percent inflation and support sustainable wage growth.
The board said in its April meeting statement that it will patiently continue with monetary easing"while nimbly responding to developments in economic activity and prices as well as financial conditions," indicating that it could adjust its yield curve control framework to allow slightly higher interest rates.
For the French consumer price index for May, no revision is expected, leaving a 0.1 percent monthly decline and a 5.1 percent annual inflation rate, the latter down from April's final 5.9 percent.
The European Central Bank, fighting against stubbornly high underlying inflation, is expected to raise rates by 25 basis points. This would follow a 25-point move in May that followed three consecutive 50-point moves and before that back-to-back 75-point hikes.
Taiwan's central bank will announce its quarterly monetary policy decision on Thursday evening local time, or early morning in the US. The Central Bank of the Republic of China is expected to leave its policy rate at 1.875 percent on easing consumer inflation after unexpectedly raising it by 12.5 basis points in March.
In the US, new jobless claims for the June 10 week are expected to ease back to 250,000 versus the prior week's outsized 28,000 jump to 261,000.
The Philadelphia Fed manufacturing index has been in contraction the last 10 reports, at minus 10.4 in May, with June's consensus at minus 13.2.
May retail sales are expected to come in unchanged versus April's 0.4 percent rise in a report that, like the headline, proved moderate overall. Only marginal to modest gains are expected for the core readings.
Following May's wild downswing to minus 31.8 from April's plus 10.8, the Empire State manufacturing index is expected to roughly split the difference, at minus 15.1 in June.
US import prices rose 0.4 percent in April, ending nine straight declines which, however, are expected to resume in May where the consensus is a 0.6 percent fall. Export prices, which rose 0.2 percent in April, are also expected to fall back, at a consensus 0.5 percent.
Industrial production is expected to edge 0.1 percent higher in May after April's 0.5 percent increase that was boosted by manufacturing output which jumped a surprising 1.0 percent. Manufacturing in May is seen up 0.2 percent.
Business inventories in April are expected to rise 0.2 percent following a percent 0.1 decline in March.
Canada's manufacturing sales, which have been swinging back and forth along a declining trend, are expected to fall back 0.2 percent in April after rising 0.7 percent in March.
The Bank of Japan's policy board is expected to vote unanimously to maintain its monetary easing stance, keeping its zero to slightly negative interest rate targets along the yield curve and relatively large asset purchases to continue seeking stable 2 percent inflation and support sustainable wage growth.
The board said in its April meeting statement that it will patiently continue with monetary easing"while nimbly responding to developments in economic activity and prices as well as financial conditions," indicating that it could adjust its yield curve control framework to allow slightly higher interest rates.
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.
