Highlights
German retail sales volumes are expected to rise 0.3 percent in July versus June's 0.8 percent fall. The unemployment rate in Germany is forecast to be unchanged at 5.6 percent in August after improving in July from 5.7 percent in June.
In Switzerland, the year-over-year increase in retail sales is expected to edge up from June's 1.8 percent to 2.0 percent in July.
Among French data, consumption of manufactured goods by consumers in July is expected to rise 0.3 percent on the month following a 1.2 percent gain in June.
The annual inflation rate in France is expected to be stable at July's final 4.3 percent. No revisions are expected to the provisional second quarter French GDP data, leaving a 0.5 percent quarterly gain and a 0.9 percent annual growth rate.
Inflation in the Eurozone is expected to ease further in August. The year-over-year increase in the harmonised index of consumer prices (HICP) is forecast at 5.1 percent, slowing from 5.3 percent in July and 5.5 percent in June. The inflation rate has been falling from a record high of 10.6 percent hit in October 2022 but it is still above the European Central Bank's 2 percent target. The core measure (excluding energy, food, alcohol and tobacco) is also expected to moderate to 5.3 percent from 5.5 percent seen in the previous two months.
In Italy, annual inflation is seen falling from July's final 5.9 percent to 5.3 percent.
Among US data, jobless claims for the August 31 week are expected to come in at 238,000 versus 230,000 in the prior week.
Personal income is expected to rise 0.3 percent in July with consumption expenditures expected to increase a solid 0.6 percent. These would compare with June's 0.3 percent increase for income and 0.5 percent increase for consumption. Inflation readings for July are expected at monthly increases of 0.2 percent both overall and for the core (versus June's increases of 0.2 percent for both). Annual rates are expected at 3.3 percent overall and 4.2 percent for the core (versus June's 3.0 and 4.1 percent).
The Chicago PMI is expected to rise in August to 44.6 from 42.8 in July, which was the 11th straight month of sub-50 contraction.
Atlanta Federal Reserve Bank President Raphael Bostic will make prepared remarks and participate in a panel discussion at the South African Reserve Bank's Biennial Research Conference at 3:15 a.m. EDT (0715 GMT).
Boston Federal Reserve Bank President Susan Collins will speak virtually on creating an economy that works for all and the role community colleges play in the nation's essential development of its people and workforce before the Bunker Hill Community College annual convocation at 9 a.m. EDT (1300 GMT).
In South Korea, the manufacturing PMI for August is expected to slow to 49.0 following July's 2.1-point rise to 49.4.
China's S&P manufacturing PMI in August is expected to hold steady at 49.3 versus 49.2 in July, which was nearly a full point below expectations. The sector index has shown virtually no growth over the past year.
In Switzerland, the year-over-year increase in retail sales is expected to edge up from June's 1.8 percent to 2.0 percent in July.
Among French data, consumption of manufactured goods by consumers in July is expected to rise 0.3 percent on the month following a 1.2 percent gain in June.
The annual inflation rate in France is expected to be stable at July's final 4.3 percent. No revisions are expected to the provisional second quarter French GDP data, leaving a 0.5 percent quarterly gain and a 0.9 percent annual growth rate.
Inflation in the Eurozone is expected to ease further in August. The year-over-year increase in the harmonised index of consumer prices (HICP) is forecast at 5.1 percent, slowing from 5.3 percent in July and 5.5 percent in June. The inflation rate has been falling from a record high of 10.6 percent hit in October 2022 but it is still above the European Central Bank's 2 percent target. The core measure (excluding energy, food, alcohol and tobacco) is also expected to moderate to 5.3 percent from 5.5 percent seen in the previous two months.
In Italy, annual inflation is seen falling from July's final 5.9 percent to 5.3 percent.
Among US data, jobless claims for the August 31 week are expected to come in at 238,000 versus 230,000 in the prior week.
Personal income is expected to rise 0.3 percent in July with consumption expenditures expected to increase a solid 0.6 percent. These would compare with June's 0.3 percent increase for income and 0.5 percent increase for consumption. Inflation readings for July are expected at monthly increases of 0.2 percent both overall and for the core (versus June's increases of 0.2 percent for both). Annual rates are expected at 3.3 percent overall and 4.2 percent for the core (versus June's 3.0 and 4.1 percent).
The Chicago PMI is expected to rise in August to 44.6 from 42.8 in July, which was the 11th straight month of sub-50 contraction.
Atlanta Federal Reserve Bank President Raphael Bostic will make prepared remarks and participate in a panel discussion at the South African Reserve Bank's Biennial Research Conference at 3:15 a.m. EDT (0715 GMT).
Boston Federal Reserve Bank President Susan Collins will speak virtually on creating an economy that works for all and the role community colleges play in the nation's essential development of its people and workforce before the Bunker Hill Community College annual convocation at 9 a.m. EDT (1300 GMT).
In South Korea, the manufacturing PMI for August is expected to slow to 49.0 following July's 2.1-point rise to 49.4.
China's S&P manufacturing PMI in August is expected to hold steady at 49.3 versus 49.2 in July, which was nearly a full point below expectations. The sector 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.
