Highlights
For this week, the focus in North America is on US retail sales and industrial production data on Tuesday, both of which are expected to indicate slower activity, and on Canadian CPI due Tuesday, which is forecast to show an uptick in consumer inflation in light of higher energy costs.
On Monday, wholesale prices in India, due at 2:30 a.m. EDT (0630 GMT), are expected to post a 0.35% rise on the year in September after a 0.52 percent drop in August.
The New York Fed's Empire State manufacturing index is expected to fall into modest contraction, to minus 5.0 in October, after September's plus 1.9, which was the third positive score in four months.
Canada's manufacturing sales are expected to rise 1.0 percent on the month in August, slowing from a 1.6 percent increase in July.
Ahead of its next rate announcement on Oct. 25, the Bank of Canada will release the results of its quarterly Business Outlook Survey for July-September, which is expected to show sentiment among companies in Canada declined for the seventh straight quarter. The previous poll released in June indicated continued credit tightening by many central banks was slowing global demand but many firms also reported domestic demand was up slightly on year due to improved supply chains and waning fears of a recession.
Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before the Mortgage Bankers Association Annual Convention & Expo at 10:30 a.m. EDT (1430 GMT). He will also speak virtually on the economic outlook during the National Association of Corporate Directors Webinar at 16:30 a.m. EDT (2030 GMT).
In New Zealand, the consumer price index is forecast to post a 1.9 percent rise on the quarter in the July-September quarter, up from 1.1 percent seen in the previous quarter while the annual rate is expected to ease slightly to 5.9 percent from 6.0 percent.
The Reserve Bank of Australia will release the minutes of its Oct. 3 meeting at 11:00 a.m. AEDT Tuesday (8:30 p.m. EDT Monday/0030 GMT Tuesday). At the meeting, the RBA board decided to leave the cash rate target unchanged at 4.10 percent while monitoring the impact of its cumulative interest rate hikes totaling 4 percentage points since the current tightening cycle began in May last year.
On Monday, wholesale prices in India, due at 2:30 a.m. EDT (0630 GMT), are expected to post a 0.35% rise on the year in September after a 0.52 percent drop in August.
The New York Fed's Empire State manufacturing index is expected to fall into modest contraction, to minus 5.0 in October, after September's plus 1.9, which was the third positive score in four months.
Canada's manufacturing sales are expected to rise 1.0 percent on the month in August, slowing from a 1.6 percent increase in July.
Ahead of its next rate announcement on Oct. 25, the Bank of Canada will release the results of its quarterly Business Outlook Survey for July-September, which is expected to show sentiment among companies in Canada declined for the seventh straight quarter. The previous poll released in June indicated continued credit tightening by many central banks was slowing global demand but many firms also reported domestic demand was up slightly on year due to improved supply chains and waning fears of a recession.
Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before the Mortgage Bankers Association Annual Convention & Expo at 10:30 a.m. EDT (1430 GMT). He will also speak virtually on the economic outlook during the National Association of Corporate Directors Webinar at 16:30 a.m. EDT (2030 GMT).
In New Zealand, the consumer price index is forecast to post a 1.9 percent rise on the quarter in the July-September quarter, up from 1.1 percent seen in the previous quarter while the annual rate is expected to ease slightly to 5.9 percent from 6.0 percent.
The Reserve Bank of Australia will release the minutes of its Oct. 3 meeting at 11:00 a.m. AEDT Tuesday (8:30 p.m. EDT Monday/0030 GMT Tuesday). At the meeting, the RBA board decided to leave the cash rate target unchanged at 4.10 percent while monitoring the impact of its cumulative interest rate hikes totaling 4 percentage points since the current tightening cycle began in May last 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.
