Highlights
India's consumer prices are expected to accelerate to 4.60 percent on the year in June from 4.25 percent in May, which compared with expectations for 4.40 percent.
In the US, core consumer prices (excluding food and energy) in June are expected to slow to a comparatively modest 0.3 percent on the month versus May's 0.4 percent. Overall prices are also expected to rise 0.3 percent. Annual rates are expected to slow sharply at the headline level, to 3.1 percent from 4.0 percent, and also for the core, to 5.0 percent from 5.3 percent.
Having unexpectedly raised rates by 25 basis points at its June meeting, the Bank of Canada is expected to raise rates once again by another 25 points that would lift its benchmark overnight rate to a 22-year high of 5.00 percent. GDP is solid, estimated to have risen 0.4 percent in May alone, and job growth in June came in very strong, at 60,000, both suggesting Canada's economy can withstand another hike. Consumer inflation has slowed to 3.4 percent but core inflation less so, still at 4.0 percent.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a panel discussion titled"Banking Solvency and Monetary Policy" at the National Bureau of Economic Research Summer Institute, in Massachusetts at 9:45 a.m. EDT (1345 GMT).
At the same event, Cleveland Federal Reserve Bank President Loretta Mester is scheduled to speak on Macro, Money and Financial Frictions at 4 p.m. EDT (2000 GMT).
The Bank of Korea stood aside at its last three meetings and held rates unchanged. With both headline and core inflation slowing, to 2.7 and 3.5 percent respectively in June, the bank is expected to once again hold its base rate at 3.50 percent.
China's trade surplus for June is expected to widen to US$74.90 billion versus May's much lower-than-expected $65.79 billion, a month when exports slowed more sharply than imports.
In the US, core consumer prices (excluding food and energy) in June are expected to slow to a comparatively modest 0.3 percent on the month versus May's 0.4 percent. Overall prices are also expected to rise 0.3 percent. Annual rates are expected to slow sharply at the headline level, to 3.1 percent from 4.0 percent, and also for the core, to 5.0 percent from 5.3 percent.
Having unexpectedly raised rates by 25 basis points at its June meeting, the Bank of Canada is expected to raise rates once again by another 25 points that would lift its benchmark overnight rate to a 22-year high of 5.00 percent. GDP is solid, estimated to have risen 0.4 percent in May alone, and job growth in June came in very strong, at 60,000, both suggesting Canada's economy can withstand another hike. Consumer inflation has slowed to 3.4 percent but core inflation less so, still at 4.0 percent.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a panel discussion titled"Banking Solvency and Monetary Policy" at the National Bureau of Economic Research Summer Institute, in Massachusetts at 9:45 a.m. EDT (1345 GMT).
At the same event, Cleveland Federal Reserve Bank President Loretta Mester is scheduled to speak on Macro, Money and Financial Frictions at 4 p.m. EDT (2000 GMT).
The Bank of Korea stood aside at its last three meetings and held rates unchanged. With both headline and core inflation slowing, to 2.7 and 3.5 percent respectively in June, the bank is expected to once again hold its base rate at 3.50 percent.
China's trade surplus for June is expected to widen to US$74.90 billion versus May's much lower-than-expected $65.79 billion, a month when exports slowed more sharply than imports.
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.
