Highlights
In the UK, GDP in the month of October is expected to fall 0.1 percent versus 0.2 percent expansion in September.
In the UK industrial output data, overall goods production is seen dipping 0.1 percent on the month in October while manufacturing output holds flat.
The global goods deficit for October is put at £14.5 billion, up slightly from September's £14.29 billion.
Italy's monthly jobs data point to a third quarter unemployment rate of 7.6 percent following a probably upwardly revised 7.7 percent in the second quarter.
In the Eurozone, industrial production in October is expected to fall 0.3 percent on the month after falling 1.1 percent in September. Consensus for October's year-over-year rate is contraction of 4.5 percent versus September contraction of 6.9 percent.
Among US data, producer prices in November are expected to edge 0.1 percent higher on the month versus a decline of 0.5 percent in October. The annual rate in November is seen at plus 1.0 percent versus October's plus 1.3 percent.
November's ex-food ex-energy rate is seen up 0.2 percent on the month and up 2.2 percent on the year versus no change on the month in October and a 2.4 percent rise on the year.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. Like the November meeting, the Fed is expected to hold policy steady at the December meeting and wait for prior rate hikes to do their work. Core inflation remains too high but at about 4 percent has been moderating. It last raised the target range for the federal funds rate by 25 basis points to a range of 5.00 to 5.25 percent in July.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EST (1930 GMT).
In New Zealand, consensus for third-quarter GDP is slowing quarter-to-quarter expansion of 0.2 percent versus 0.9 percent expansion in the second quarter. The year-over-year rate is seen at plus 0.2 percent versus plus 1.8 percent previously.
The Bank of Japan's quarterly Tankan business survey is forecast to show confidence among major manufacturers in Japan edged up in December on improved supply chains, a bottoming chip market and easing import costs after a sharp improvement in September, but they are expected to remain cautious about their near-term outlook amid slowing global growth and widespread domestic labor shortages. The index showing sentiment among major manufacturers likely posted its third straight quarterly increase in December, although rising only slightly to 10 after jumping to 9 in September from 5 in June.
In the UK industrial output data, overall goods production is seen dipping 0.1 percent on the month in October while manufacturing output holds flat.
The global goods deficit for October is put at £14.5 billion, up slightly from September's £14.29 billion.
Italy's monthly jobs data point to a third quarter unemployment rate of 7.6 percent following a probably upwardly revised 7.7 percent in the second quarter.
In the Eurozone, industrial production in October is expected to fall 0.3 percent on the month after falling 1.1 percent in September. Consensus for October's year-over-year rate is contraction of 4.5 percent versus September contraction of 6.9 percent.
Among US data, producer prices in November are expected to edge 0.1 percent higher on the month versus a decline of 0.5 percent in October. The annual rate in November is seen at plus 1.0 percent versus October's plus 1.3 percent.
November's ex-food ex-energy rate is seen up 0.2 percent on the month and up 2.2 percent on the year versus no change on the month in October and a 2.4 percent rise on the year.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. Like the November meeting, the Fed is expected to hold policy steady at the December meeting and wait for prior rate hikes to do their work. Core inflation remains too high but at about 4 percent has been moderating. It last raised the target range for the federal funds rate by 25 basis points to a range of 5.00 to 5.25 percent in July.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EST (1930 GMT).
In New Zealand, consensus for third-quarter GDP is slowing quarter-to-quarter expansion of 0.2 percent versus 0.9 percent expansion in the second quarter. The year-over-year rate is seen at plus 0.2 percent versus plus 1.8 percent previously.
The Bank of Japan's quarterly Tankan business survey is forecast to show confidence among major manufacturers in Japan edged up in December on improved supply chains, a bottoming chip market and easing import costs after a sharp improvement in September, but they are expected to remain cautious about their near-term outlook amid slowing global growth and widespread domestic labor shortages. The index showing sentiment among major manufacturers likely posted its third straight quarterly increase in December, although rising only slightly to 10 after jumping to 9 in September from 5 in June.
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.
