Highlights
Sentiment among French manufacturers measured by the INSEE business survey index is expected to be unchanged at 99 for October after rising slightly in September from an upwardly revised 97 in August.
In the US, new jobless claims for the October 15 week are expected to come in at 211,000 versus 209,000 in the prior week. Claims have moved lower in recent weeks toward historic lows.
The Philadelphia Fed manufacturing index in October is expected to improve to minus 7.0 after slumping to minus 13.5 in September from plus 12 in August.
Existing home sales in September are forecast to decrease to a 3.90 million annual rate from August's 4.04 million rate. The National Association of Realtors described August sales as stable, balanced between the effects of high mortgage rates and strength in the labor market.
The index of leading economic indicators in September is expected to extend its long streak of decline with another 0.4 percent dip after falling 0.4 percent in August. This index has long been signaling a pending recession.
Federal Reserve Vice Chair Philip Jefferson will give opening remarks before the 18th Central Bank Conference on the Microstructure of Financial Markets at 9 a.m. EDT (1300 GMT).
Federal Reserve Chairman Jerome Powell will participate in a discussion on the economic outlook before an Economic Club of New York luncheon at 12 p.m. EDT (1600 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a moderated question-and-answer session at a Wisconsin Manufacturers & Commerce Business Day event at 1:20 p.m. EDT (1720 GMT).
Federal Reserve Vice Chair for Supervision Michael Barr will speak on"Stress Testing" before the 2023 Federal Reserve Stress Testing Research Conference at 1:30 p.m. EDT (1730 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will speak on"The Role of Policy in Addressing Inequality" before the New School's Schwartz Center for Policy Research at 4 p.m. EDT (2000 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker to speak on the economic outlook before the Chartered Financial Analyst Society Philadelphia 80th Anniversary Celebration at 5:30 p.m. EDT (2130 GMT).
Dallas Federal Reserve Bank President Lorie Logan will participate in a moderated question-and-answer session before the Money Marketeers of New York University at 6:40 p.m. EDT (2240 GMT).
Consumer inflation in Japan is forecast to have eased in all three key measures as energy subsidies continued to push down electricity and natural gas utility costs while markups in processed food prices appeared to be peaking. The core measure (excluding fresh food) is seen up 2.7 percent on the year, led by elevated prices for processed food and rising service costs, but it would be slower than a 3.1 percent rise in August. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is forecast at 4.1 percent, down from a 42-year high of 4.3 percent recorded in August, July and May. The year-over-year increase in the total CPI is also expected to have eased to 3.0 percent in September from 3.2 percent in August.
The consensus for the People's Bank of China's loan prime rates is for no change, at 3.45 percent for the one-year rate and 4.20 percent for the five-year rate, a mortgage benchmark. The central bank left the rates unchanged last month after cutting the one-year lending rate but keeping the five-year rate unchanged in August. The PBoC has lowered the amount of cash that banks must hold as reserves for a second time this year to help support the economic recovery.
In the US, new jobless claims for the October 15 week are expected to come in at 211,000 versus 209,000 in the prior week. Claims have moved lower in recent weeks toward historic lows.
The Philadelphia Fed manufacturing index in October is expected to improve to minus 7.0 after slumping to minus 13.5 in September from plus 12 in August.
Existing home sales in September are forecast to decrease to a 3.90 million annual rate from August's 4.04 million rate. The National Association of Realtors described August sales as stable, balanced between the effects of high mortgage rates and strength in the labor market.
The index of leading economic indicators in September is expected to extend its long streak of decline with another 0.4 percent dip after falling 0.4 percent in August. This index has long been signaling a pending recession.
Federal Reserve Vice Chair Philip Jefferson will give opening remarks before the 18th Central Bank Conference on the Microstructure of Financial Markets at 9 a.m. EDT (1300 GMT).
Federal Reserve Chairman Jerome Powell will participate in a discussion on the economic outlook before an Economic Club of New York luncheon at 12 p.m. EDT (1600 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a moderated question-and-answer session at a Wisconsin Manufacturers & Commerce Business Day event at 1:20 p.m. EDT (1720 GMT).
Federal Reserve Vice Chair for Supervision Michael Barr will speak on"Stress Testing" before the 2023 Federal Reserve Stress Testing Research Conference at 1:30 p.m. EDT (1730 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will speak on"The Role of Policy in Addressing Inequality" before the New School's Schwartz Center for Policy Research at 4 p.m. EDT (2000 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker to speak on the economic outlook before the Chartered Financial Analyst Society Philadelphia 80th Anniversary Celebration at 5:30 p.m. EDT (2130 GMT).
Dallas Federal Reserve Bank President Lorie Logan will participate in a moderated question-and-answer session before the Money Marketeers of New York University at 6:40 p.m. EDT (2240 GMT).
Consumer inflation in Japan is forecast to have eased in all three key measures as energy subsidies continued to push down electricity and natural gas utility costs while markups in processed food prices appeared to be peaking. The core measure (excluding fresh food) is seen up 2.7 percent on the year, led by elevated prices for processed food and rising service costs, but it would be slower than a 3.1 percent rise in August. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is forecast at 4.1 percent, down from a 42-year high of 4.3 percent recorded in August, July and May. The year-over-year increase in the total CPI is also expected to have eased to 3.0 percent in September from 3.2 percent in August.
The consensus for the People's Bank of China's loan prime rates is for no change, at 3.45 percent for the one-year rate and 4.20 percent for the five-year rate, a mortgage benchmark. The central bank left the rates unchanged last month after cutting the one-year lending rate but keeping the five-year rate unchanged in August. The PBoC has lowered the amount of cash that banks must hold as reserves for a second time this year to help support the economic recovery.
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.
