Highlights
The focus for this week is on July jobs data for the US and Canada where labor market conditions remain tight, thus supporting resilient consumer spending.
Before the European markets open on Monday, Japan's industrial production is forecast to show a 2.4 percent rebound on the month in June, led by automobiles and production machinery on improving supply chains and amid mixed global demand. It would be the first rise in two months after a revised 2.2 percent fall in May, the first drop in four months.
Japanese retail sales are expected to post their 16th straight year-over-year increase in June, up 5.5 percent following a 5.8 percent gain in May, thanks to solid demand for automobiles amid improving supply chains, recovering department store sales and higher prices for food and beverages, which together are mitigating the impact of falling fuel costs and sluggish appliances sales
In Germany, retail sales volumes have been depressed but did rise 0.4 percent on the month in May. June's expectations are a 0.5 percent decrease.
Italy's second-quarter GDP is expected to edge 0.1 percent higher on the quarter versus 0.6 percent growth in the first quarter.
In the Eurozone, second-quarter GDP is expected to expand only 0.1 percent on a quarterly basis after growing at the same pace in the first quarter. On the year, the regional economy is forecast to rise 0.5 percent, slowing from 1.3 percent in the previous quarter.
Among US data, the Chicago PMI is expected to improve 2 points in July to a still very weak 43.5 versus 41.5 in June, which was the tenth straight month of sub-50 contraction.
The Dallas Fed manufacturing activity index is forecast to post a 15th straight negative score, at a consensus minus 22.5 in July versus minus 23.2 in June.
Later in Asia, Japanese payrolls are expected to post their 11th straight year-over-year growth in June as hotels, restaurants, factories and contractors continued to fill job vacancies amid resilient consumer spending. The unemployment rate is forecast to have improved slightly to 2.5 percent from 2.6 percent in May.
South Korea's trade surplus is expected to have widen to $2.9 billion in July from $1.13 billion in June.
The manufacturing PMI in South Korea is forecast at 47.3 for July, down slightly from 47.8 in June.
In China, Caixin's manufacturing PMI in July is expected to slow to an even flatter 50.1 from 50.5 in June. The index has shown virtually no growth over the past year.
Before the European markets open on Monday, Japan's industrial production is forecast to show a 2.4 percent rebound on the month in June, led by automobiles and production machinery on improving supply chains and amid mixed global demand. It would be the first rise in two months after a revised 2.2 percent fall in May, the first drop in four months.
Japanese retail sales are expected to post their 16th straight year-over-year increase in June, up 5.5 percent following a 5.8 percent gain in May, thanks to solid demand for automobiles amid improving supply chains, recovering department store sales and higher prices for food and beverages, which together are mitigating the impact of falling fuel costs and sluggish appliances sales
In Germany, retail sales volumes have been depressed but did rise 0.4 percent on the month in May. June's expectations are a 0.5 percent decrease.
Italy's second-quarter GDP is expected to edge 0.1 percent higher on the quarter versus 0.6 percent growth in the first quarter.
In the Eurozone, second-quarter GDP is expected to expand only 0.1 percent on a quarterly basis after growing at the same pace in the first quarter. On the year, the regional economy is forecast to rise 0.5 percent, slowing from 1.3 percent in the previous quarter.
Among US data, the Chicago PMI is expected to improve 2 points in July to a still very weak 43.5 versus 41.5 in June, which was the tenth straight month of sub-50 contraction.
The Dallas Fed manufacturing activity index is forecast to post a 15th straight negative score, at a consensus minus 22.5 in July versus minus 23.2 in June.
Later in Asia, Japanese payrolls are expected to post their 11th straight year-over-year growth in June as hotels, restaurants, factories and contractors continued to fill job vacancies amid resilient consumer spending. The unemployment rate is forecast to have improved slightly to 2.5 percent from 2.6 percent in May.
South Korea's trade surplus is expected to have widen to $2.9 billion in July from $1.13 billion in June.
The manufacturing PMI in South Korea is forecast at 47.3 for July, down slightly from 47.8 in June.
In China, Caixin's manufacturing PMI in July is expected to slow to an even flatter 50.1 from 50.5 in June. The index has shown virtually no growth over the past year.
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.
