Highlights
Producer prices in Germany are expected to ease further. After May's 1.4 percent monthly fall, June's PPI is seen falling 0.4 percent. Year-over-year, the PPI has cooled for eight consecutive months and is seen edging lower from plus 1.0 percent to plus 0.8 percent.
In France, the INSEE business climate indicator is seen dipping a further 1 point to 100 in July.
For the Eurozone, the EC consumer confidence index in July is expected to fall back 2 tenths to minus 16.3 versus June's 1.3-point improvement to minus 16.1. This index has been steadily recovering from record lows hit during the third quarter last year.
Among US data, jobless claims for the July 15 week are expected to come in at 241,000 and hold most of the improvement from the 12,000 fall to 237,000 in the prior week.
The Philadelphia Fed manufacturing index has been in contraction the last eleven reports, at minus 13.7 in June with July's consensus at minus 10.2.
After May's 4.30 million annualized rate, existing home sales in June are expected to slip to a 4.23 million rate. The National Association of Realtors has described recent sales as stable within, however, a fast-moving market.
The index of leading US economic indicators in July is expected to post a 15th straight decline, down a consensus 0.6 percent on the month after a similar 0.7 percent drop in May. This index has been in sharp decline and has long been signaling a pending recession.
Consumer inflation in Japan is expected to be stable just above 3 percent in June, with both the total CPI and the core measure (excluding fresh food prices) seen ticking up to 3.3 percent from 3.2 percent in May as markups by power companies led to a smaller drop in overall energy costs. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is forecast to ease slightly to 4.2 percent from a 41-year high of 4.3 percent in May, indicating that widespread retail price hikes for food and durable goods may be peaking soon, as seen in drops in producer import costs in recent months.
In France, the INSEE business climate indicator is seen dipping a further 1 point to 100 in July.
For the Eurozone, the EC consumer confidence index in July is expected to fall back 2 tenths to minus 16.3 versus June's 1.3-point improvement to minus 16.1. This index has been steadily recovering from record lows hit during the third quarter last year.
Among US data, jobless claims for the July 15 week are expected to come in at 241,000 and hold most of the improvement from the 12,000 fall to 237,000 in the prior week.
The Philadelphia Fed manufacturing index has been in contraction the last eleven reports, at minus 13.7 in June with July's consensus at minus 10.2.
After May's 4.30 million annualized rate, existing home sales in June are expected to slip to a 4.23 million rate. The National Association of Realtors has described recent sales as stable within, however, a fast-moving market.
The index of leading US economic indicators in July is expected to post a 15th straight decline, down a consensus 0.6 percent on the month after a similar 0.7 percent drop in May. This index has been in sharp decline and has long been signaling a pending recession.
Consumer inflation in Japan is expected to be stable just above 3 percent in June, with both the total CPI and the core measure (excluding fresh food prices) seen ticking up to 3.3 percent from 3.2 percent in May as markups by power companies led to a smaller drop in overall energy costs. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is forecast to ease slightly to 4.2 percent from a 41-year high of 4.3 percent in May, indicating that widespread retail price hikes for food and durable goods may be peaking soon, as seen in drops in producer import costs in recent months.
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.
