Highlights
German retail sales volumes are expected to rise 1.0 percent on the month in December versus November's dismal and far lower-than-expected 2.5 percent fall.
Retail sales in Switzerland are forecast to grow 1.1 percent on the year in December, rising from a 0.7 percent gain in November.
Consumer inflation in France is expected to ease to 2.9 percent on the year in December after accelerating to 3.7 percent in November from 3.5 percent in October. The CPI is seen falling 0.4 percent on the month after edging up 0.1 percent.
The unemployment rate in Germany is expected to hold steady at 5.9 percent rate in January.
The annual inflation rate is also cooling in Germany. January's consensus is 3.3 percent versus 3.7 percent in December, which, for the first time since June, was up from the prior month's 3.2 percent. On the month, however, the CPI is seen rising 0.5 percent, up from a 0.1 percent gain in December.
In the US, ADP's January employment number is forecast at 130,000. This would compare with December growth in private payrolls reported by the Bureau of Labor Statistics of 164,000. ADP's number for December was also 164,000.
The employment cost index is expected to rise 1.0 percent in the fourth quarter, slightly lower than the third quarter's 1.1 percent increase.
The Chicago PMI is expected to rise in January to 48.1 versus December's lower-than-expected 46.9 that followed emergence in November from long contraction at 55.8.
Canada's monthly GDP report is expected to show a 0.1 percent rise in November after no change in both October and September. In its quarterly Monetary Policy Report released this month, the Bank of Canada forecast Canada's GDP would show no growth at an annualized pace in the October-December quarter (data due Feb. 29), revised down from 0.8 percent growth projected in October.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is widely expected to leave the target range for the federal funds rate in a range of 5.25 to 5.50 percent. The Fed is keeping restrictive monetary conditions to bring inflation back to its 2 percent target from above 3 percent as the US economy remains resilient despite high borrowing costs. It last raised rates in July 2023.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EST (1930 GMT).
Retail sales in Switzerland are forecast to grow 1.1 percent on the year in December, rising from a 0.7 percent gain in November.
Consumer inflation in France is expected to ease to 2.9 percent on the year in December after accelerating to 3.7 percent in November from 3.5 percent in October. The CPI is seen falling 0.4 percent on the month after edging up 0.1 percent.
The unemployment rate in Germany is expected to hold steady at 5.9 percent rate in January.
The annual inflation rate is also cooling in Germany. January's consensus is 3.3 percent versus 3.7 percent in December, which, for the first time since June, was up from the prior month's 3.2 percent. On the month, however, the CPI is seen rising 0.5 percent, up from a 0.1 percent gain in December.
In the US, ADP's January employment number is forecast at 130,000. This would compare with December growth in private payrolls reported by the Bureau of Labor Statistics of 164,000. ADP's number for December was also 164,000.
The employment cost index is expected to rise 1.0 percent in the fourth quarter, slightly lower than the third quarter's 1.1 percent increase.
The Chicago PMI is expected to rise in January to 48.1 versus December's lower-than-expected 46.9 that followed emergence in November from long contraction at 55.8.
Canada's monthly GDP report is expected to show a 0.1 percent rise in November after no change in both October and September. In its quarterly Monetary Policy Report released this month, the Bank of Canada forecast Canada's GDP would show no growth at an annualized pace in the October-December quarter (data due Feb. 29), revised down from 0.8 percent growth projected in October.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is widely expected to leave the target range for the federal funds rate in a range of 5.25 to 5.50 percent. The Fed is keeping restrictive monetary conditions to bring inflation back to its 2 percent target from above 3 percent as the US economy remains resilient despite high borrowing costs. It last raised rates in July 2023.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EST (1930 GMT).
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.
