Highlights
In Germany, retail sales volumes are expected to rise 0.5 percent on the month in January versus December's steeper-than-expected 1.6 percent fall. Sales are seen falling 1.2 percent after a 4.4 percent dip.
Consumer inflation in France is expected to ease slightly to a 2.8 percent rise on the year in February from a 3.1 percent increase in January. On the month, the CPI is forecast to rise 0.8 percent following a 0.2 percent fall.
Consumption of manufactured goods by consumers in France is seen down 0.5 percent on the month in January after a 0.4 percent gain in January.
French GDP for the fourth quarter is seen unrevised, leaving a flat quarterly performance and annual growth of 0.7 percent.
In Switzerland, fourth quarter GDP growth is forecast at 0.2 percent on quarter, putting the annual rate at 0.4 percent, up a tick from last time.
The KOF Swiss leading indicators is expected to rise further in February to 102.0 from 101.5 in January.
Germany's unemployment rate is expected to hold steady for a fourth consecutive month at 5.8 percent in February. It rose to the current level in October from 5.7 percent previously.
Consumer inflation in Germany is expected to ease further to a 2.7 percent rise on the year in February from January's much cooler-than-expected 2.9 percent rate and 3.7 percent in December. On the month, the CPI is seen up 0.6 percent after a 0.2 percent gain.
India's fourth quarter GDP growth is seen slowing to 7.2 percent on the year from a stronger-than-expected 7.6 percent in the third quarter.
US jobless claims for the February 24 week are expected to rise back to 210,000 from 201,000 in the prior week.
US personal consumption expenditures (PCE) prices are expected to show some easing but indicate inflation is still above the Fed's 2 percent target.
Personal income is expected to rise 0.4 percent in January, with consumption expenditures expected to increase 0.2 percent. These would compare with December's respective increases of 0.3 and 0.7 percent. Inflation readings for January are expected at monthly increases of 0.3 percent overall and an overheated 0.4 percent for the core (versus 0.2 percent increases for both in December). Annual rates are expected at 2.4 percent overall and 2.8 percent for the core (versus December's 2.6 and 2.9 percent).
The Chicago PMI is expected to rise in February to 47.3 versus January's 46.0 that followed December's 46.9. This index briefly emerged from long contraction in November at 55.8.
Pending home sales in January, which in December jumped a surprising 8.3 percent, are expected to rise a further 0.8 percent.
Cananda's monthly GDP data is expected to show another 0.2 percent rise in December after rising at the same rate in November. In the fourth quarter, the GDP is seen rebounding 1.0 percent annualized, following 1.1 percent contraction in the third quarter. The economy has been largely flat, reeling from high borrowing costs and sticky service costs.
Among Fed officials, Atlanta Federal Reserve Bank President Raphael Bostic will speak on the economic outlook, monetary policy and the state of the banking industry before the 2024 Banking Outlook Conference hosted by the Federal Reserve Bank of Atlanta at 10:50 a.m. EST (1550 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will speak virtually on"Monetary Policy at an Unusual Time" before a webinar event hosted by the Princeton University Bendheim Center for Finance at 11 a.m. EST (1600 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will speak on"Financial Stability/Regulation" before the Columbia University/Bank Policy Institute 2024 Bank Regulation Research Conference at 1:15 p.m. EST (1815 GMT).
New York Federal Reserve Bank President John Williams to participate in moderated discussion before hybrid Citizens Budget Commission 92nd Annual Gala at 8:10 p.m. EST (0110 GMT Friday).
Japanese payrolls are expected to post their 18th straight rise on year in January, reflecting widespread labor shortages at factories, hotels and restaurants among others. The unemployment rate is forecast at 2.4 percent, unchanged from December, when it fell to an 11-month low from 2.5 percent seen in the previous two months. People are quitting to look for better openings and finding a new job fairly soon, keeping the jobless rate relatively low.
In China, the CFLP manufacturing PMI for February is expected to be little changed 49.3 from January's 49.2, which was slightly less weak than expected and up marginally from December's 49.0. The non-manufacturing PMI is also seen little changed at 50.8 versus 50.7.
S&P's Chinese manufacturing PMI for February is expected to hold unchanged at January's 50.8.
Consumer inflation in France is expected to ease slightly to a 2.8 percent rise on the year in February from a 3.1 percent increase in January. On the month, the CPI is forecast to rise 0.8 percent following a 0.2 percent fall.
Consumption of manufactured goods by consumers in France is seen down 0.5 percent on the month in January after a 0.4 percent gain in January.
French GDP for the fourth quarter is seen unrevised, leaving a flat quarterly performance and annual growth of 0.7 percent.
In Switzerland, fourth quarter GDP growth is forecast at 0.2 percent on quarter, putting the annual rate at 0.4 percent, up a tick from last time.
The KOF Swiss leading indicators is expected to rise further in February to 102.0 from 101.5 in January.
Germany's unemployment rate is expected to hold steady for a fourth consecutive month at 5.8 percent in February. It rose to the current level in October from 5.7 percent previously.
Consumer inflation in Germany is expected to ease further to a 2.7 percent rise on the year in February from January's much cooler-than-expected 2.9 percent rate and 3.7 percent in December. On the month, the CPI is seen up 0.6 percent after a 0.2 percent gain.
India's fourth quarter GDP growth is seen slowing to 7.2 percent on the year from a stronger-than-expected 7.6 percent in the third quarter.
US jobless claims for the February 24 week are expected to rise back to 210,000 from 201,000 in the prior week.
US personal consumption expenditures (PCE) prices are expected to show some easing but indicate inflation is still above the Fed's 2 percent target.
Personal income is expected to rise 0.4 percent in January, with consumption expenditures expected to increase 0.2 percent. These would compare with December's respective increases of 0.3 and 0.7 percent. Inflation readings for January are expected at monthly increases of 0.3 percent overall and an overheated 0.4 percent for the core (versus 0.2 percent increases for both in December). Annual rates are expected at 2.4 percent overall and 2.8 percent for the core (versus December's 2.6 and 2.9 percent).
The Chicago PMI is expected to rise in February to 47.3 versus January's 46.0 that followed December's 46.9. This index briefly emerged from long contraction in November at 55.8.
Pending home sales in January, which in December jumped a surprising 8.3 percent, are expected to rise a further 0.8 percent.
Cananda's monthly GDP data is expected to show another 0.2 percent rise in December after rising at the same rate in November. In the fourth quarter, the GDP is seen rebounding 1.0 percent annualized, following 1.1 percent contraction in the third quarter. The economy has been largely flat, reeling from high borrowing costs and sticky service costs.
Among Fed officials, Atlanta Federal Reserve Bank President Raphael Bostic will speak on the economic outlook, monetary policy and the state of the banking industry before the 2024 Banking Outlook Conference hosted by the Federal Reserve Bank of Atlanta at 10:50 a.m. EST (1550 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will speak virtually on"Monetary Policy at an Unusual Time" before a webinar event hosted by the Princeton University Bendheim Center for Finance at 11 a.m. EST (1600 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will speak on"Financial Stability/Regulation" before the Columbia University/Bank Policy Institute 2024 Bank Regulation Research Conference at 1:15 p.m. EST (1815 GMT).
New York Federal Reserve Bank President John Williams to participate in moderated discussion before hybrid Citizens Budget Commission 92nd Annual Gala at 8:10 p.m. EST (0110 GMT Friday).
Japanese payrolls are expected to post their 18th straight rise on year in January, reflecting widespread labor shortages at factories, hotels and restaurants among others. The unemployment rate is forecast at 2.4 percent, unchanged from December, when it fell to an 11-month low from 2.5 percent seen in the previous two months. People are quitting to look for better openings and finding a new job fairly soon, keeping the jobless rate relatively low.
In China, the CFLP manufacturing PMI for February is expected to be little changed 49.3 from January's 49.2, which was slightly less weak than expected and up marginally from December's 49.0. The non-manufacturing PMI is also seen little changed at 50.8 versus 50.7.
S&P's Chinese manufacturing PMI for February is expected to hold unchanged at January's 50.8.
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.
