Highlights
In Switzerland, the adjusted unemployment rate is seen unchanged at 2.0 percent in June.
German industrial production is expected to slip 0.1 percent on the month after rising 0.3 percent in April. The year-over-year increase is seen holding steady at plus 1.8 percent.
Italian retail sales are forecast to show a 0.1 percent rise on the month in May after a 0.2 percent gain in April.
The focus is on how tight the labor markets are in North America in the latest monthly data.
In the US, a 213,000 rise is the call for nonfarm payroll growth in June versus 339,000 in May, which was much higher than expected. June's unemployment rate is expected to edge 1 tenth lower at 3.6 percent.
Average hourly earnings in June are expected to rise 0.3 percent on the month for a year-over-year rate of 4.2 percent; these would show no to very little change from 0.3 and 4.3 percent in May.
The Federal Reserve's policy-setting committee decided to maintain the target range for the federal funds rate at 5 percent to 5.25 percent last month. Job gains have been robust in recent months and the unemployment rate has remained low while inflation remains elevated, it said. The Fed is expected to resume raising rates at its next meeting on July 25-26.
In Canada, employment is expected to rise 17,500 on the month in June after May's unexpected decline of 17,300. The unemployment rate is expected to edge 1 tenth higher to 5.3 percent.
The Bank of Canada unexpectedly raised the policy rate by 25 basis points to 4.75 percent last month, saying monetary policy was not sufficiently restrictive to bring supply and demand back into balance and describing the labor market tight. The bank is expected to raise rates again in its next policy decision on July 12.
German industrial production is expected to slip 0.1 percent on the month after rising 0.3 percent in April. The year-over-year increase is seen holding steady at plus 1.8 percent.
Italian retail sales are forecast to show a 0.1 percent rise on the month in May after a 0.2 percent gain in April.
The focus is on how tight the labor markets are in North America in the latest monthly data.
In the US, a 213,000 rise is the call for nonfarm payroll growth in June versus 339,000 in May, which was much higher than expected. June's unemployment rate is expected to edge 1 tenth lower at 3.6 percent.
Average hourly earnings in June are expected to rise 0.3 percent on the month for a year-over-year rate of 4.2 percent; these would show no to very little change from 0.3 and 4.3 percent in May.
The Federal Reserve's policy-setting committee decided to maintain the target range for the federal funds rate at 5 percent to 5.25 percent last month. Job gains have been robust in recent months and the unemployment rate has remained low while inflation remains elevated, it said. The Fed is expected to resume raising rates at its next meeting on July 25-26.
In Canada, employment is expected to rise 17,500 on the month in June after May's unexpected decline of 17,300. The unemployment rate is expected to edge 1 tenth higher to 5.3 percent.
The Bank of Canada unexpectedly raised the policy rate by 25 basis points to 4.75 percent last month, saying monetary policy was not sufficiently restrictive to bring supply and demand back into balance and describing the labor market tight. The bank is expected to raise rates again in its next policy decision on July 12.
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.
