Highlights
Inflation in the UK is expected to ease in February. The consumer price index is forecast to rise 3.6 percent on year, slowing from 4.0 percent in January, when goods price gains moderated but services costs rose at a faster pace. The year-over-year increase in the core CPI (excluding food and energy) is also seen slowing to 4.6 percent from 5.1 percent.
German producer prices for February are seen edging 0.1 percent lower on the month after firming 0.2 percent on the month in January. From a year earlier, the PPI is seen down 3.8 percent after falling 4.4 percent.
In Italy, industrial production in January is expected to fall 0.6 percent on the month following a better-than-expected 1.1 percent rise in December.
The European Commission's consumer confidence index for March is expected to rise to minus 14.5 versus February's minus 15.5, which was 6 tenths better than January but once again was well short of the minus 11.3 long-run average.
At 2 p.m. EDT (1800 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, which was last raised in July 2023. The Fed is keeping restrictive monetary conditions to bring inflation back to its 2 percent target from above 3 percent amid still tight labor conditions.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EDT (1830 GMT). The focus is on any hint from the Fed chief as to when the central bank is likely to start cutting rates.
New Zealand's GDP data for the fourth quarter is forecast to show the economy posted a slight 0.1 percent increase on quarter after falling 0.3 percent in the previous quarter and grew 0.1 percent on year following 0.6 percent contraction.
Japanese export values are forecast to rise 5.7 percent on year in February after rising 11.9 percent in January. Strong demand for automobiles offset lower shipments of semiconductor-producing equipment. Cargo flows in Asia appeared slowed in early February due to the lunar new year holidays. Import values are expected to rise 4.0 percent after falling 9.6 percent in January, which would be the first increase in 11 months amid a continued fall in energy prices.
The trade balance is forecast to show a ¥826.2 billion deficit after recording a revised ¥1,760.3 billion (¥1.76 trillion) deficit in January. It would be narrower than a ¥928.9 billion deficit in February 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) hit in January 2023.
In Australia, employment is expected to grow 32,000 in February after rising just 500 in January and falling 62,700 in December. The seasonally adjusted unemployment rate is forecast at 4.0 percent, easing from 4.1 percent in January, when it rose from 3.9 percent in December. The participation rate is seen unchanged at 66.8 percent.
German producer prices for February are seen edging 0.1 percent lower on the month after firming 0.2 percent on the month in January. From a year earlier, the PPI is seen down 3.8 percent after falling 4.4 percent.
In Italy, industrial production in January is expected to fall 0.6 percent on the month following a better-than-expected 1.1 percent rise in December.
The European Commission's consumer confidence index for March is expected to rise to minus 14.5 versus February's minus 15.5, which was 6 tenths better than January but once again was well short of the minus 11.3 long-run average.
At 2 p.m. EDT (1800 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, which was last raised in July 2023. The Fed is keeping restrictive monetary conditions to bring inflation back to its 2 percent target from above 3 percent amid still tight labor conditions.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EDT (1830 GMT). The focus is on any hint from the Fed chief as to when the central bank is likely to start cutting rates.
New Zealand's GDP data for the fourth quarter is forecast to show the economy posted a slight 0.1 percent increase on quarter after falling 0.3 percent in the previous quarter and grew 0.1 percent on year following 0.6 percent contraction.
Japanese export values are forecast to rise 5.7 percent on year in February after rising 11.9 percent in January. Strong demand for automobiles offset lower shipments of semiconductor-producing equipment. Cargo flows in Asia appeared slowed in early February due to the lunar new year holidays. Import values are expected to rise 4.0 percent after falling 9.6 percent in January, which would be the first increase in 11 months amid a continued fall in energy prices.
The trade balance is forecast to show a ¥826.2 billion deficit after recording a revised ¥1,760.3 billion (¥1.76 trillion) deficit in January. It would be narrower than a ¥928.9 billion deficit in February 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) hit in January 2023.
In Australia, employment is expected to grow 32,000 in February after rising just 500 in January and falling 62,700 in December. The seasonally adjusted unemployment rate is forecast at 4.0 percent, easing from 4.1 percent in January, when it rose from 3.9 percent in December. The participation rate is seen unchanged at 66.8 percent.
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.
