Highlights
Before the European and US markets open, the Reserve Bank of India is expected to announce its monetary policy decision at 10 a.m. in Mumbai Friday (11:30 a.m. EST/0430 GMT). The RBI is expected to hold rates steady for a fifth meeting in a row. The bank's Monetary Policy Committee decided unanimously to leave its policy rate unchanged at 6.50 percent at its April, June, August and October meetings, following a 25-poitn hike in February, a 35-point rise in December and 50-point increases at the previous three meetings. In October, the bank said the cumulative policy rate hike of 250 basis points was still working its way through the economy.
The US jobs data is forecast to show a 180,000 rise in nonfarm payroll growth in November, up from 150,000 in October, which was on the low side of expectations and reflected a 33,000 drop in motor vehicle manufacturing tied to a labor strike.
Average hourly earnings in November are expected to rise 0.3 percent on the month for a year-over-year rate of 4.0 percent; these would compare with 0.2 and 4.1 percent in October, which were roughly as expected.
November's unemployment rate is expected to hold unchanged at 3.9 percent, showing labor market conditions remain relatively tight.
The University of Michigan's consumer sentiment index is expected to edge marginally higher to a still depressed 61.8 in December after falling to 61.3 in November from 60.4 in October.
In China, consumer prices are expected to post a 0.3 percent drop on year in November after falling 0.2 percent in October. The inflation rate peaked in January at 2.1 percent. Producer prices are expected to show a sharper 3.0 percent fall in November for a 14th straight year-over-year drop, following a 2.6 percent decline the previous month.
The US jobs data is forecast to show a 180,000 rise in nonfarm payroll growth in November, up from 150,000 in October, which was on the low side of expectations and reflected a 33,000 drop in motor vehicle manufacturing tied to a labor strike.
Average hourly earnings in November are expected to rise 0.3 percent on the month for a year-over-year rate of 4.0 percent; these would compare with 0.2 and 4.1 percent in October, which were roughly as expected.
November's unemployment rate is expected to hold unchanged at 3.9 percent, showing labor market conditions remain relatively tight.
The University of Michigan's consumer sentiment index is expected to edge marginally higher to a still depressed 61.8 in December after falling to 61.3 in November from 60.4 in October.
In China, consumer prices are expected to post a 0.3 percent drop on year in November after falling 0.2 percent in October. The inflation rate peaked in January at 2.1 percent. Producer prices are expected to show a sharper 3.0 percent fall in November for a 14th straight year-over-year drop, following a 2.6 percent decline the previous month.
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.
