Highlights
UK Public sector finances are seasonally very strong in January. Last month, overall net borrowing (PSNB) is seen posting an £18.5 billion surplus after a £6.85 billion deficit in December. Excluding public sector banks, the black ink is put at £17.6 billion.
The Confederation of British Industry (CBI) monthly survey on manufacturers is expected to show the headline orders balance rose from January's minus 30 percent to minus 25 percent in February.
The European Commission's consumer confidence index for February is expected to improve to minus 15.7 from January's minus 16.1, which was once again well short of the minus 11.3 long-run average.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee will release the minutes of its Jan. 30-31 meeting. The FOMC left the target range for the federal funds rate in a range of 5.25 to 5.50 percent, as expected. 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.
Atlanta Federal Reserve Bank President Raphael Bostic will give welcome remarks before the Airports Council International CFO Summit hosted by the Regional Economic Information Network (REIN) of the Federal Reserve Bank of Atlanta at 8 a.m. EST (1300 GMT).
Federal Reserve Board Governor Michelle Bowman will participate in discussion on"A View from the Federal Reserve" before an Exchequer Club luncheon at 1 p.m. EST (1800 GMT).
In Asia, the Bank of Korea is expected to maintain its policy rate at a restrictive level of 3.5 percent for a ninth straight meeting. The bank last raised the Base Rate by 25 basis points to the current level in January 2023.
The Confederation of British Industry (CBI) monthly survey on manufacturers is expected to show the headline orders balance rose from January's minus 30 percent to minus 25 percent in February.
The European Commission's consumer confidence index for February is expected to improve to minus 15.7 from January's minus 16.1, which was once again well short of the minus 11.3 long-run average.
At 2 p.m. EST (1900 GMT), the Federal Open Market Committee will release the minutes of its Jan. 30-31 meeting. The FOMC left the target range for the federal funds rate in a range of 5.25 to 5.50 percent, as expected. 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.
Atlanta Federal Reserve Bank President Raphael Bostic will give welcome remarks before the Airports Council International CFO Summit hosted by the Regional Economic Information Network (REIN) of the Federal Reserve Bank of Atlanta at 8 a.m. EST (1300 GMT).
Federal Reserve Board Governor Michelle Bowman will participate in discussion on"A View from the Federal Reserve" before an Exchequer Club luncheon at 1 p.m. EST (1800 GMT).
In Asia, the Bank of Korea is expected to maintain its policy rate at a restrictive level of 3.5 percent for a ninth straight meeting. The bank last raised the Base Rate by 25 basis points to the current level in January 2023.
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.
