Highlights
Inflation in Switzerland is expected to ease further in July, with the year-over-year increase in the CPI is seen at 1.6 percent, down slightly from 1.7 percent in June and 2.2 percent in May.
Italian retail sales are seen flat in June after a 0.7 percent monthly gain in May.
The Eurozone's producer prices are expected to fall 3.2 percent on the year in June, which would compare with a fifth straight month of contraction in May, down 1.9 percent.
The Bank of England is expected to raise its policy interest rate by 25 points at its August meeting after having raised Bank Rate by an unexpected 50 basis points in June. The CPI annual rate has been coming down but was still high at 7.9 percent in June.
In the US, new jobless claims for the July 30 week are expected to come in at 225,000 versus 221,000 in the prior week. Claims have been moving lower in recent weeks.
Nonfarm productivity is expected to rise at a 1.3 percent annualized rate in the second quarter versus 2.1 percent contraction in the first quarter. Unit labor costs, which rose 4.2 percent in the first quarter, are expected to rise to a 2.6 percent rate in the second quarter.
Factory orders are expected to rise 1.7 percent on the month in June versus May's 0.3 percent gain. Durable goods orders for June, which have already been released and are one of two major components of this report, jumped 4.7 percent on the month.
Business activity in the US service sector is expected to be in positive territory for the seventh straight month in July. The key ISM index, which shows the directional change of economic activity, is forecast to fall 0.9 percentage point to 53.0 after surging 3.6 points to a four-month high of 53.9 in June, when new orders came in at a faster pace, employment conditions bounced back to growth and inflation moderated.
Italian retail sales are seen flat in June after a 0.7 percent monthly gain in May.
The Eurozone's producer prices are expected to fall 3.2 percent on the year in June, which would compare with a fifth straight month of contraction in May, down 1.9 percent.
The Bank of England is expected to raise its policy interest rate by 25 points at its August meeting after having raised Bank Rate by an unexpected 50 basis points in June. The CPI annual rate has been coming down but was still high at 7.9 percent in June.
In the US, new jobless claims for the July 30 week are expected to come in at 225,000 versus 221,000 in the prior week. Claims have been moving lower in recent weeks.
Nonfarm productivity is expected to rise at a 1.3 percent annualized rate in the second quarter versus 2.1 percent contraction in the first quarter. Unit labor costs, which rose 4.2 percent in the first quarter, are expected to rise to a 2.6 percent rate in the second quarter.
Factory orders are expected to rise 1.7 percent on the month in June versus May's 0.3 percent gain. Durable goods orders for June, which have already been released and are one of two major components of this report, jumped 4.7 percent on the month.
Business activity in the US service sector is expected to be in positive territory for the seventh straight month in July. The key ISM index, which shows the directional change of economic activity, is forecast to fall 0.9 percentage point to 53.0 after surging 3.6 points to a four-month high of 53.9 in June, when new orders came in at a faster pace, employment conditions bounced back to growth and inflation moderated.
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.
