Inflation at the business level in Germany is expected to ease further in May, with the producer price index seen slowing to an annual increase of 1.8 percent from 4.1 percent in April, 6.1 percent in March, 13.5 percent in February and a recent peak of 45.8 percent recorded in September and August 2022. On the month, the PPI is forecast to fall 0.3 percent after April's 0.3 percent rise, which was the first monthly increase since last September.

In the US, housing starts in April bounced higher to a 1.401 million annualized rate from March's 1.371 million. Starts in May are expected to hold steady while permits, at 1.416 million in April, are expected to rise to 1.433 million.

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.

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.