Highlights
Before the European and North American markets open, the CPI data for Singapore is expected to show consumer inflation eased to a 0.3 percent rise on the month in July from a 0.5 percent gain in June. The year-over-year increase is expected to slow further to 4.2 percent from 4.5 percent in June and 5.1 percent in May.
The preliminary French purchasing managers' index data for August is forecast to show the index for the services sector remains in contraction for a third straight month at 47.2, little changed from the final reading of 47.1 in July. The manufacturing PMI is likely to stay in contraction for a seventh straight month at 45.2 versus 45.1 in July.
In Germany, the manufacturing PMI is forecast at 38.6 in August for a 14th straight month of contraction, sliding further from 38.8. The services PMI, which has been over 50 for the past seven months and at 52.3 in July, is seen slowing by nearly a point to 51.5.
For the Eurozone, the manufacturing PMI is expected to dip to 42.4 in August from 42.7 in July and the services PMI is also seen easing to 50.5 from 50.9. Manufacturing has been in contraction for the last 13 months straight with services in expansion for the last seven.
In the UK, the PMI for the services sector is forecast at 50.6 for August, down from 51.5 in July, but likely to be above 50 for a seventh consecutive month. The manufacturing index, which has been in sub-50 contraction for 12 months in a row, is seen at 45.1 in August, down slightly from 45.3 in July. The composite index is expected to fall to 50.2 from July's 50.8.
The European Commission's consumer confidence in August is expected to rise to minus 14.2 from July's minus 15.1. This index has been steadily improving from record lows hit during the third quarter last year.
The US PMI data is expected to show the services index will edge down to 52.0 in August from 52.3 in July, staying above the key 50 line for a seventh straight month. The manufacturing index is also seen down slightly at 48.8 versus 49.0 in July.
US new home sales in July, a month before mortgage rates began their spike, are expected to edge higher to a 705,000 annual rate after slowing to 697,000 in June which, though lower than expected, was still the second highest rate in more than a year.
Canadian retail sales in June are expected to be unchanged on the month following a 0.2 percent increase in May.
The Bank of Korea is expected to leave its policy interest rate unchanged for the fifth straight meeting, at 3.5 percent, after raising the base rate by 25 basis points to the current level in January. Consumer inflation moderated to 2.3 percent in July from 2.7 percent in June, edging closer to the bank's 2 percent target. The annual rate for the core CPI (excluding food and energy) also eased to 3.3 percent from 3.5 percent. Last month, the BoK's monetary policy board said it was necessary to maintain the restrictive policy stance for a considerable time.
The preliminary French purchasing managers' index data for August is forecast to show the index for the services sector remains in contraction for a third straight month at 47.2, little changed from the final reading of 47.1 in July. The manufacturing PMI is likely to stay in contraction for a seventh straight month at 45.2 versus 45.1 in July.
In Germany, the manufacturing PMI is forecast at 38.6 in August for a 14th straight month of contraction, sliding further from 38.8. The services PMI, which has been over 50 for the past seven months and at 52.3 in July, is seen slowing by nearly a point to 51.5.
For the Eurozone, the manufacturing PMI is expected to dip to 42.4 in August from 42.7 in July and the services PMI is also seen easing to 50.5 from 50.9. Manufacturing has been in contraction for the last 13 months straight with services in expansion for the last seven.
In the UK, the PMI for the services sector is forecast at 50.6 for August, down from 51.5 in July, but likely to be above 50 for a seventh consecutive month. The manufacturing index, which has been in sub-50 contraction for 12 months in a row, is seen at 45.1 in August, down slightly from 45.3 in July. The composite index is expected to fall to 50.2 from July's 50.8.
The European Commission's consumer confidence in August is expected to rise to minus 14.2 from July's minus 15.1. This index has been steadily improving from record lows hit during the third quarter last year.
The US PMI data is expected to show the services index will edge down to 52.0 in August from 52.3 in July, staying above the key 50 line for a seventh straight month. The manufacturing index is also seen down slightly at 48.8 versus 49.0 in July.
US new home sales in July, a month before mortgage rates began their spike, are expected to edge higher to a 705,000 annual rate after slowing to 697,000 in June which, though lower than expected, was still the second highest rate in more than a year.
Canadian retail sales in June are expected to be unchanged on the month following a 0.2 percent increase in May.
The Bank of Korea is expected to leave its policy interest rate unchanged for the fifth straight meeting, at 3.5 percent, after raising the base rate by 25 basis points to the current level in January. Consumer inflation moderated to 2.3 percent in July from 2.7 percent in June, edging closer to the bank's 2 percent target. The annual rate for the core CPI (excluding food and energy) also eased to 3.3 percent from 3.5 percent. Last month, the BoK's monetary policy board said it was necessary to maintain the restrictive policy stance for a considerable time.
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.
