Highlights
In Italy, confidence in manufacturing is expected to edge up to 98.0 in September
from 97.8 in August while its consumer sector counterpart is seen sliding to 106.0 from 106.5.
The European Commission's economic sentiment index for September is expected to fall to 92.5 from 93.3 in August, which was down from 94.5 in July.
Germany's consumer inflation is forecast to moderate to a 4.7 percent rise on the year in September from 6.1 percent in August, which compared with expectations for 6.0 percent and with July's 6.2 percent. Yet the monthly rate is seen rising to 0.5 percent from 0.3 percent.
In the US, the third estimate of second-quarter GDP, at a 2.3 percent consensus, is expected to show even more growth than 2.1 percent in the second estimate. Personal consumption expenditures are expected to be unrevised at 1.7 percent.
New jobless claims for the September 23 week are expected to rise 10,000 to 211,000 versus 201,000 in the prior week. Claims have been moving noticeably lower in recent weeks.
Among Fed speakers, Chicago Federal Reserve Bank President Austan Goolsbee will give a policy speech onsite before the Peterson Institute for International Economics at 9 a.m. (1300 GMT).
Federal Reserve Board Governor Lisa Cook will give closing remarks before the hybrid Minorities in Banking Forum hosted by the Federal Reserve Bank of Dallas at 1 p.m. (1700 GMT).
Federal Reserve Chairman Jerome Powell will give opening remarks and participate in a moderated discussion before the hybrid"Conversation with the Chair: A Teacher Town Hall Meeting" at 4 p.m. (2000 GMT).
Richmond Federal Reserve Bank President Thomas Barkin will speak on the economy and monetary policy before the Money Marketeers of New York University at 7 p.m. (2300 GMT).
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to ease to a 13-month low of 2.6 percent in September from 2.8 percent in August in the core CPI (excluding fresh food) and to a 12-month low of 2.8 percent from 2.9 percent the previous month in total CPI. Utility charges are estimated to have fallen at a faster pace and elevated processed food prices may be showing signs of peaking. The core-core CPI (excluding fresh food and energy) annual rate is expected to remain at a 41-year high of 4.0 percent in September, unchanged from August and July, as rising nominal wages amid labor shortages have led to higher costs for services.
Japanese payrolls are expected to record their 13th straight growth on year in August as hospitals, hotels, restaurants and factories continued to secure workers while the unemployment rate is forecast at 2.6 percent after rising unexpectedly to 2.7 percent in July from 2.5 percent in June. Job cuts are believed to have steadied and fewer people appeared to have begun looking for work. In July, more women joined the labor market to look for openings, hoping to support household income amid rising costs for daily necessities and improving wages.
Japan's industrial production is forecast to post a second straight monthly decline, down 0.8 percent in August, after a revised 1.8 percent drop in July, hit by weaker global and domestic demand for semiconductor-producing equipment and despite continued recovery in the auto industry. A temporary shutdown at Toyota Motor's domestic factories on Aug. 29 caused by a computer system malfunction is believed to have trimmed overall production.
Japanese retail sales are expected to maintain high pace of growth on the year in August, up 6.9 percent, after a revised 7.0 percent rise in July, as the lingering heat wave boosted demand for summer clothing and other seasonal goods, new car sales rose on improved supply and record high gasoline prices pushed up fuel costs. Sales values are also underpinned by elevated prices for food and beverages. The number of visitors from other countries continued to show a sharp increase after Japan's Covid border control was widely eased in May, driving department store sales higher.
from 97.8 in August while its consumer sector counterpart is seen sliding to 106.0 from 106.5.
The European Commission's economic sentiment index for September is expected to fall to 92.5 from 93.3 in August, which was down from 94.5 in July.
Germany's consumer inflation is forecast to moderate to a 4.7 percent rise on the year in September from 6.1 percent in August, which compared with expectations for 6.0 percent and with July's 6.2 percent. Yet the monthly rate is seen rising to 0.5 percent from 0.3 percent.
In the US, the third estimate of second-quarter GDP, at a 2.3 percent consensus, is expected to show even more growth than 2.1 percent in the second estimate. Personal consumption expenditures are expected to be unrevised at 1.7 percent.
New jobless claims for the September 23 week are expected to rise 10,000 to 211,000 versus 201,000 in the prior week. Claims have been moving noticeably lower in recent weeks.
Among Fed speakers, Chicago Federal Reserve Bank President Austan Goolsbee will give a policy speech onsite before the Peterson Institute for International Economics at 9 a.m. (1300 GMT).
Federal Reserve Board Governor Lisa Cook will give closing remarks before the hybrid Minorities in Banking Forum hosted by the Federal Reserve Bank of Dallas at 1 p.m. (1700 GMT).
Federal Reserve Chairman Jerome Powell will give opening remarks and participate in a moderated discussion before the hybrid"Conversation with the Chair: A Teacher Town Hall Meeting" at 4 p.m. (2000 GMT).
Richmond Federal Reserve Bank President Thomas Barkin will speak on the economy and monetary policy before the Money Marketeers of New York University at 7 p.m. (2300 GMT).
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to ease to a 13-month low of 2.6 percent in September from 2.8 percent in August in the core CPI (excluding fresh food) and to a 12-month low of 2.8 percent from 2.9 percent the previous month in total CPI. Utility charges are estimated to have fallen at a faster pace and elevated processed food prices may be showing signs of peaking. The core-core CPI (excluding fresh food and energy) annual rate is expected to remain at a 41-year high of 4.0 percent in September, unchanged from August and July, as rising nominal wages amid labor shortages have led to higher costs for services.
Japanese payrolls are expected to record their 13th straight growth on year in August as hospitals, hotels, restaurants and factories continued to secure workers while the unemployment rate is forecast at 2.6 percent after rising unexpectedly to 2.7 percent in July from 2.5 percent in June. Job cuts are believed to have steadied and fewer people appeared to have begun looking for work. In July, more women joined the labor market to look for openings, hoping to support household income amid rising costs for daily necessities and improving wages.
Japan's industrial production is forecast to post a second straight monthly decline, down 0.8 percent in August, after a revised 1.8 percent drop in July, hit by weaker global and domestic demand for semiconductor-producing equipment and despite continued recovery in the auto industry. A temporary shutdown at Toyota Motor's domestic factories on Aug. 29 caused by a computer system malfunction is believed to have trimmed overall production.
Japanese retail sales are expected to maintain high pace of growth on the year in August, up 6.9 percent, after a revised 7.0 percent rise in July, as the lingering heat wave boosted demand for summer clothing and other seasonal goods, new car sales rose on improved supply and record high gasoline prices pushed up fuel costs. Sales values are also underpinned by elevated prices for food and beverages. The number of visitors from other countries continued to show a sharp increase after Japan's Covid border control was widely eased in May, driving department store sales higher.
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.
