Highlights
US data watching continues ahead of the next policy meeting of the Federal Open Market Committee on Dec. 12-13 while the Bank of Canada is expected to stand pat again on Wednesday amid signs of slowing economic activity.
The Reserve Bank of Australia and the Reserve Bank of India are also widely expected to leave their respective policy rates unchanged this week.
For Monday, Germany's goods balance is expected to widen to a €17.1 billion surplus in October versus a surplus of €16.5 billion in September that was lower than expected and reflected a sharper decline in exports than the decline in imports.
South Korea's annual inflation rate is expected to ease slightly to 3.7 percent in November from 3.8 percent in October.
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to ease in November as markups in processed food had peaked and hotel fees rose in reaction to a subsidized drop seen a year earlier, following an unexpected uptick in October, when halved subsidies for electricity and natural gas utilities slowed the recent sharp drop in overall energy costs.
The core CPI (excluding fresh food), which is closely watched by Bank of Japan policymakers, is expected to post a 17-month low of a 2.4 percent rise on year, slowing from 2.7 percent in October and 2.5 percent in September. The year-over-year rise in the total CPI is also seen slipping back to 3.0 percent after rising to 3.3 percent in October from 2.8 percent in September. The core-core CPI (excluding fresh food and energy) annual rate is expected to ease to an eight-month low of 3.7 percent from 3.8 percent in October, 3.9 percent in September and a 41-year high of 4.0 percent hit in August and July.
In China, S&P's services PMI is expected to improve slightly to 50.7 in November versus October's 50.4 and September's 49.5.
Saying inflation was"proving more persistent than expected", the Reserve Bank of Australia raised its policy interest rate by 25 basis points to 4.35 percent in November after holding policy steady at their prior four meetings. Expectations for December's meeting is no change.
The Reserve Bank of Australia and the Reserve Bank of India are also widely expected to leave their respective policy rates unchanged this week.
For Monday, Germany's goods balance is expected to widen to a €17.1 billion surplus in October versus a surplus of €16.5 billion in September that was lower than expected and reflected a sharper decline in exports than the decline in imports.
South Korea's annual inflation rate is expected to ease slightly to 3.7 percent in November from 3.8 percent in October.
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to ease in November as markups in processed food had peaked and hotel fees rose in reaction to a subsidized drop seen a year earlier, following an unexpected uptick in October, when halved subsidies for electricity and natural gas utilities slowed the recent sharp drop in overall energy costs.
The core CPI (excluding fresh food), which is closely watched by Bank of Japan policymakers, is expected to post a 17-month low of a 2.4 percent rise on year, slowing from 2.7 percent in October and 2.5 percent in September. The year-over-year rise in the total CPI is also seen slipping back to 3.0 percent after rising to 3.3 percent in October from 2.8 percent in September. The core-core CPI (excluding fresh food and energy) annual rate is expected to ease to an eight-month low of 3.7 percent from 3.8 percent in October, 3.9 percent in September and a 41-year high of 4.0 percent hit in August and July.
In China, S&P's services PMI is expected to improve slightly to 50.7 in November versus October's 50.4 and September's 49.5.
Saying inflation was"proving more persistent than expected", the Reserve Bank of Australia raised its policy interest rate by 25 basis points to 4.35 percent in November after holding policy steady at their prior four meetings. Expectations for December's meeting is no change.
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.
