Highlights
In the UK, consumer inflation is expected to moderate only slightly to 3.8 percent in December after slowing more than expected to 3.9 percent in November from 4.6 percent in October and 6.7 percent in September. The CPI is seen rising 0.2 percent on the month after falling 0.2 percent previously.
The UK producer price data is forecast to show that output prices fell a further 0.2 percent on the month in December while input costs dipped a steeper 0.6 percent.
As for the Eurozone's harmonised index of consumer prices (HICP), no revisions are expected to the provisional data, leaving a 2.9 percent headline inflation rate, up from November's final 2.4 percent, and a 3.4 percent narrow core, down from 3.6 percent.
US retail sales are expected to rise a solid 0.4 percent in December versus November's surprising 0.3 percent gain, which compared with expectations for a small decline. Excluding autos, sales are expected to show a modest 0.2 percent rise while sales excluding autos and gasoline are seen increasing 0.3 percent.
Import prices percent fell 0.4 percent in November, with December's expectations at a decline of 0.6 percent. Export prices, which in November fell 0.9 percent, are expected to also fall 0.6 percent.
After a modest 0.2 percent rise in December, US industrial production is expected to fall 0.1 percent in November. No change is expected for manufacturing output after rising 0.3 percent previously. Capacity utilization is expected to edge lower to 78.7 percent from 78.8 percent in November.
Business inventories in November are expected to edge 0.1 percent lower to match October's 0.1 percent draw.
Forecasters expect the housing market index to rise 1 point to 38 in January after rising 3 points in December to 37. December saw gains in traffic and future sales tied to moderation in financing costs.
Federal Reserve Vice Chair for Supervision Michael Barr will speak on"Cyber Risk" before the 2nd Annual Massachusetts Institute of Technology/Federal Reserve System Conference on Measuring Cyber Risk in the Financial Services Sector at 9 a.m. EST (1400 GMT).
Federal Reserve Board Governor Michelle Bowman will participate in discussion on"The Path Forward for Bank Capital Reform" before the U.S. Chamber of Commerce Protect Main Street Lending Event at 9 a.m. EST (1400 GMT).
New York Federal Reserve Bank President John Williams will give opening remarks before the hybrid event"An Economy that Works for All: Measurement Matters" at the Federal Reserve Bank of New York at 3 p.m. EST (2000 GMT).
Japanese core machinery orders, the key leading indicator of business investment in equipment, are forecast to post their first drop in three months, down 1.5 percent in November amid slowing global growth and despite strong digitization demand for computers, after recording a surprise 0.7 percent rise in October. Firms are cautious about implementing their solid capital investment plans, as seen in the second straight quarterly decline in capex in the July-September GDP data. Core private-sector machinery orders, which exclude volatile orders from electric utilities and for ships, are expected to mark a ninth straight year-over-year drop, down 0.6 percent, after falling 2.2 percent previously.
Australia's unemployment rate is forecast at 3.9 percent in December, unchanged from November, while employment growth is seen slowing sharply to 15,500 from a higher-than-expected 61,500.
The UK producer price data is forecast to show that output prices fell a further 0.2 percent on the month in December while input costs dipped a steeper 0.6 percent.
As for the Eurozone's harmonised index of consumer prices (HICP), no revisions are expected to the provisional data, leaving a 2.9 percent headline inflation rate, up from November's final 2.4 percent, and a 3.4 percent narrow core, down from 3.6 percent.
US retail sales are expected to rise a solid 0.4 percent in December versus November's surprising 0.3 percent gain, which compared with expectations for a small decline. Excluding autos, sales are expected to show a modest 0.2 percent rise while sales excluding autos and gasoline are seen increasing 0.3 percent.
Import prices percent fell 0.4 percent in November, with December's expectations at a decline of 0.6 percent. Export prices, which in November fell 0.9 percent, are expected to also fall 0.6 percent.
After a modest 0.2 percent rise in December, US industrial production is expected to fall 0.1 percent in November. No change is expected for manufacturing output after rising 0.3 percent previously. Capacity utilization is expected to edge lower to 78.7 percent from 78.8 percent in November.
Business inventories in November are expected to edge 0.1 percent lower to match October's 0.1 percent draw.
Forecasters expect the housing market index to rise 1 point to 38 in January after rising 3 points in December to 37. December saw gains in traffic and future sales tied to moderation in financing costs.
Federal Reserve Vice Chair for Supervision Michael Barr will speak on"Cyber Risk" before the 2nd Annual Massachusetts Institute of Technology/Federal Reserve System Conference on Measuring Cyber Risk in the Financial Services Sector at 9 a.m. EST (1400 GMT).
Federal Reserve Board Governor Michelle Bowman will participate in discussion on"The Path Forward for Bank Capital Reform" before the U.S. Chamber of Commerce Protect Main Street Lending Event at 9 a.m. EST (1400 GMT).
New York Federal Reserve Bank President John Williams will give opening remarks before the hybrid event"An Economy that Works for All: Measurement Matters" at the Federal Reserve Bank of New York at 3 p.m. EST (2000 GMT).
Japanese core machinery orders, the key leading indicator of business investment in equipment, are forecast to post their first drop in three months, down 1.5 percent in November amid slowing global growth and despite strong digitization demand for computers, after recording a surprise 0.7 percent rise in October. Firms are cautious about implementing their solid capital investment plans, as seen in the second straight quarterly decline in capex in the July-September GDP data. Core private-sector machinery orders, which exclude volatile orders from electric utilities and for ships, are expected to mark a ninth straight year-over-year drop, down 0.6 percent, after falling 2.2 percent previously.
Australia's unemployment rate is forecast at 3.9 percent in December, unchanged from November, while employment growth is seen slowing sharply to 15,500 from a higher-than-expected 61,500.
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.
