Highlights
Trading in the US markets resumes on Tuesday after the Christmas holiday on Monday. Some markets, including those in Canada and the UK, will be closed for Boxing Day on Tuesday.
Among US data, the Chicago Fed national activity index is expected to show its first positive figure in four months, rising to plus 0.20 in November after plunging to minus 0.49 in October from minus 0.02 in September.
The Case-Shiller home price index is forecast to show the adjusted 20-city monthly rate rose 0.6 percent on the month in October after September's as-expected 0.7 percent increase. The annual rate is seen rising from 3.9 to 5.0 percent.
The Federal Housing Finance Agency (FHFA) house price index is expected to rise 0.5 percent on the month in October following a 0.6 percent increase in September.
The Dallas Fed manufacturing activity index is forecast to extend its long contraction, at a consensus minus 20.5 in December versus minus 19.9 in November.
Singapore's consumer inflation rate is seen easing to 3.9 percent in November after surging to 4.7 percent in October from 4.1 percent in September on higher energy costs.
Industrial production in Singapore is expected to post its first month-over-month drop in three months in November, down 5.0 percent, after rising 9.8 percent in October and 13.1 percent in September. Output is seen up 2.2 percent on the year, slowing from October's 7.4 percent rebound, which was the first year-over-year increase in 13 months.
The Bank of Japan's summary of opinions expressed at its Dec. 18-19 meeting is expected to show board members continued arguing that they would need to see clearer signs of substantial wage hikes in fiscal 2024 staring in April arising from the results of annual wage talks between major firms and their trade unions that usually come out in mid-March. The summary will also show ongoing debate among board members over the costs and benefits of monetary easing.
At the December meeting, the nine-member board voted unanimously to maintain its basic monetary easing stance under the seven-year-old yield curve control framework backed by large asset purchases, keeping its long-term interest rate target officially"around zero percent," with an actual upper limit around 1 percent, and the target for the overnight rate at minus 0.1 percent, in a decade-long campaign to achieve stable 2 percent inflation. The board also retained its guidance that it will"patiently continue with monetary easing" in order to"achieve the price stability target of 2 percent in a sustainable and stable manner, accompanied by wage increases."
Among US data, the Chicago Fed national activity index is expected to show its first positive figure in four months, rising to plus 0.20 in November after plunging to minus 0.49 in October from minus 0.02 in September.
The Case-Shiller home price index is forecast to show the adjusted 20-city monthly rate rose 0.6 percent on the month in October after September's as-expected 0.7 percent increase. The annual rate is seen rising from 3.9 to 5.0 percent.
The Federal Housing Finance Agency (FHFA) house price index is expected to rise 0.5 percent on the month in October following a 0.6 percent increase in September.
The Dallas Fed manufacturing activity index is forecast to extend its long contraction, at a consensus minus 20.5 in December versus minus 19.9 in November.
Singapore's consumer inflation rate is seen easing to 3.9 percent in November after surging to 4.7 percent in October from 4.1 percent in September on higher energy costs.
Industrial production in Singapore is expected to post its first month-over-month drop in three months in November, down 5.0 percent, after rising 9.8 percent in October and 13.1 percent in September. Output is seen up 2.2 percent on the year, slowing from October's 7.4 percent rebound, which was the first year-over-year increase in 13 months.
The Bank of Japan's summary of opinions expressed at its Dec. 18-19 meeting is expected to show board members continued arguing that they would need to see clearer signs of substantial wage hikes in fiscal 2024 staring in April arising from the results of annual wage talks between major firms and their trade unions that usually come out in mid-March. The summary will also show ongoing debate among board members over the costs and benefits of monetary easing.
At the December meeting, the nine-member board voted unanimously to maintain its basic monetary easing stance under the seven-year-old yield curve control framework backed by large asset purchases, keeping its long-term interest rate target officially"around zero percent," with an actual upper limit around 1 percent, and the target for the overnight rate at minus 0.1 percent, in a decade-long campaign to achieve stable 2 percent inflation. The board also retained its guidance that it will"patiently continue with monetary easing" in order to"achieve the price stability target of 2 percent in a sustainable and stable manner, accompanied by wage increases."
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.
