Highlights
The Eurozone's EC economic sentiment index in June is expected to fell back to 96.0 from 96.5 in May
In Germany, inflation remains high. June's consensus is a year-over-year 6.3 percent rate versus 6.1 percent in May, which was down from April's 7.2 percent.
Among US data, the third estimate of first-quarter GDP, at 1.4 percent consensus growth, is expected to edge 1 tenth higher from the quarter's second estimate.
New jobless claims for the June 24 week are expected to come in at 270,000 versus a second straight and noticeably elevated 264,000 in the two prior weeks and 262,000 the week before that.
US pending home sales in May, which in April were unchanged, are expected to fall 0.6 percent.
South Korea's industrial production is expected to decrease 1.0 percent on the month in May versus a 1.2 percent decrease in April. Year-over-year contraction is seen at 7.7 percent versus 8.9 percent.
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to have picked up to 3.4 percent in June after easing to 3.2 percent in May from 3.5 percent in April in both the total CPI and the core measure (excluding fresh food) as electricity charges were raised and the government began to phase out its retail gasoline subsidies. By contrast, the core-core CPI (excluding fresh food and energy) is expected to continue accelerating to 4.0 percent in June from 3.9 percent in May and 3.8 percent in April, staying at a 41-year high.
Japanese payrolls are expected to post their 10th straight year-over-year growth in May as the reopening of the economy has prompted more active consumer spending on services while the unemployment rate is seen easing slightly to 2.5% from 2.6% in April and 2.8% in March. The number of people who began looking for work increased slightly in April but some of them may have found work in May.
Japan's industrial production is expected to have posted its first drop in four months in May, down 0.9 percent on the month after a revised 0.7 percent gain in April, reflecting slower global demand for equipment and semiconductors and despite solid automobile output amid improving supply chains. The Ministry of Economy, Trade and Industry has updated the base year of the industrial production index to 2020 from 2015, effective with revised April data, causing widespread revisions to recent figures. From a year earlier, factory output is seen up 5.5 percent for the first rise seven months after a revised 0.7 percent drop in April.
In China, the CFLP manufacturing PMI is expected to improve only slightly in June to 49.1 after contracting further in May to 48.8, while the non-manufacturing PMI is expected to slip to 53.7 from 54.5.
In Germany, inflation remains high. June's consensus is a year-over-year 6.3 percent rate versus 6.1 percent in May, which was down from April's 7.2 percent.
Among US data, the third estimate of first-quarter GDP, at 1.4 percent consensus growth, is expected to edge 1 tenth higher from the quarter's second estimate.
New jobless claims for the June 24 week are expected to come in at 270,000 versus a second straight and noticeably elevated 264,000 in the two prior weeks and 262,000 the week before that.
US pending home sales in May, which in April were unchanged, are expected to fall 0.6 percent.
South Korea's industrial production is expected to decrease 1.0 percent on the month in May versus a 1.2 percent decrease in April. Year-over-year contraction is seen at 7.7 percent versus 8.9 percent.
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to have picked up to 3.4 percent in June after easing to 3.2 percent in May from 3.5 percent in April in both the total CPI and the core measure (excluding fresh food) as electricity charges were raised and the government began to phase out its retail gasoline subsidies. By contrast, the core-core CPI (excluding fresh food and energy) is expected to continue accelerating to 4.0 percent in June from 3.9 percent in May and 3.8 percent in April, staying at a 41-year high.
Japanese payrolls are expected to post their 10th straight year-over-year growth in May as the reopening of the economy has prompted more active consumer spending on services while the unemployment rate is seen easing slightly to 2.5% from 2.6% in April and 2.8% in March. The number of people who began looking for work increased slightly in April but some of them may have found work in May.
Japan's industrial production is expected to have posted its first drop in four months in May, down 0.9 percent on the month after a revised 0.7 percent gain in April, reflecting slower global demand for equipment and semiconductors and despite solid automobile output amid improving supply chains. The Ministry of Economy, Trade and Industry has updated the base year of the industrial production index to 2020 from 2015, effective with revised April data, causing widespread revisions to recent figures. From a year earlier, factory output is seen up 5.5 percent for the first rise seven months after a revised 0.7 percent drop in April.
In China, the CFLP manufacturing PMI is expected to improve only slightly in June to 49.1 after contracting further in May to 48.8, while the non-manufacturing PMI is expected to slip to 53.7 from 54.5.
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.
