Highlights
In Switzerland, the annual inflation rate is forecast to accelerate to 1.4 percent in March from 1.2 percent in February. On the month, the CPI is seen up 0.3 percent after a 0.6 percent gain.
In France, no revisions are expected to the March PMI data, leaving the composite output index at 47.7, down from February's final 48.1 and staying below the neutral line of 50.
The German March PMI is also expected to see no revisions, leaving the composite output index at 47.4, up from February's final 46.3.
In the Eurozone, no revisions are expected to the March PMI, leaving the composite output index at 49.9, up from February's final 49.2.
In the UK, no revisions are expected to the March PMI, leaving the composite output index at 52.9, little changed from February's final 53.0.
Eurozone producer prices have shown sustained weakness and are expected to fall 8.4 percent on the year in February, which would compare with 8.6 percent contraction in January. The monthly showing, at a consensus decline of 0.5 percent in February, fell 0.9 percent in both January and December.
At 7:30 a.m. EDT (1130 GMT/1330 CET), the European Central Bank will release the minutes of its March 6-7 meeting at which the Governing Council decided to
maintain the refi rate at 4.50 percent and the deposit rate at 4.00 percent. There were no adjustments to the quantitative tightening program, currently limited to the longstanding asset purchase programme (APP) but due to include the pandemic emergency purchase programme (PEPP) from July.
In the US, a narrowing in the goods and services trade gap is expected for February, to $66.5 billion from $67.4 billion in January. By contrast, advance data on the goods side of February's report showed a widening in the deficit of $1.3 billion.
New jobless claims for the March 30 week are expected to come in at 213,000 versus 210,000 in the prior week. Claims levels have been very steady the past couple of months.
In Canada, February's trade balance is seen in surplus of C$0.8 billion versus January's C$0.5 billion surplus that masked declines for both imports and exports.
Among Fed talk, Philadelphia Federal Reserve Bank President Patrick Harker will participate in a fireside chat on"Second Chance Employment" before the Business Case for Second Chance Employment Conference at 10 a.m. EDT (1400 GMT).
Richmond Federal Reserve Bank President Thomas Barkin will give a speech on the economic outlook before the Home Building Association of Richmond at 12:15 p.m. EDT (1615 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a moderated question-and-answer session before the Multi-Chamber Economic Outlook Luncheon and Expo at 12:45 p.m. EDT (1645 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will participate in a conversation on the economic outlook before virtual Global Interdependence Center Executive Briefing at 2 p.m. EDT (1800 GMT).
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a discussion on the US economy, the impact of inflation and the pandemic, and the boom of private credit and regulation in a"Linked Live" event at 2 p.m. EDT (1800 GMT).
St. Louis Federal Reserve Bank President Alberto Musalem, who took office on April 2, will give introductory remarks before the 2024 Women in Economics Symposium hosted by the Federal Reserve Bank of St. Louis. at 7:20 p.m. EDT (2320 GMT).
At the same event, Federal Reserve Board Governor Adriana Kugler will speak on"Enriching Data and Analysis in Economics with Real Life Experiences" at 7:30 p.m. EDT (2330 GMT).
Japan's real household spending is forecast to post its 12th straight drop on the year in February, down 3.0 percent, after a 6.3 percent slump in January, which was the largest drop in nearly three years. The leap-year effect and milder weather likely helped slow the decline but consumers are generally frugal amid elevated costs and car shipments have been delayed by Toyota group output suspension over a safety test scandal. On the month, expenditures are forecast to rise 0.3 percent for the first increase in five months after a 2.1 percent slip.
Australia's goods trade surplus for February is forecast at A$10.50 billion, narrowing from A$11.027 billion in January that for a second month in a row saw monthly gains for both imports and exports.
In France, no revisions are expected to the March PMI data, leaving the composite output index at 47.7, down from February's final 48.1 and staying below the neutral line of 50.
The German March PMI is also expected to see no revisions, leaving the composite output index at 47.4, up from February's final 46.3.
In the Eurozone, no revisions are expected to the March PMI, leaving the composite output index at 49.9, up from February's final 49.2.
In the UK, no revisions are expected to the March PMI, leaving the composite output index at 52.9, little changed from February's final 53.0.
Eurozone producer prices have shown sustained weakness and are expected to fall 8.4 percent on the year in February, which would compare with 8.6 percent contraction in January. The monthly showing, at a consensus decline of 0.5 percent in February, fell 0.9 percent in both January and December.
At 7:30 a.m. EDT (1130 GMT/1330 CET), the European Central Bank will release the minutes of its March 6-7 meeting at which the Governing Council decided to
maintain the refi rate at 4.50 percent and the deposit rate at 4.00 percent. There were no adjustments to the quantitative tightening program, currently limited to the longstanding asset purchase programme (APP) but due to include the pandemic emergency purchase programme (PEPP) from July.
In the US, a narrowing in the goods and services trade gap is expected for February, to $66.5 billion from $67.4 billion in January. By contrast, advance data on the goods side of February's report showed a widening in the deficit of $1.3 billion.
New jobless claims for the March 30 week are expected to come in at 213,000 versus 210,000 in the prior week. Claims levels have been very steady the past couple of months.
In Canada, February's trade balance is seen in surplus of C$0.8 billion versus January's C$0.5 billion surplus that masked declines for both imports and exports.
Among Fed talk, Philadelphia Federal Reserve Bank President Patrick Harker will participate in a fireside chat on"Second Chance Employment" before the Business Case for Second Chance Employment Conference at 10 a.m. EDT (1400 GMT).
Richmond Federal Reserve Bank President Thomas Barkin will give a speech on the economic outlook before the Home Building Association of Richmond at 12:15 p.m. EDT (1615 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a moderated question-and-answer session before the Multi-Chamber Economic Outlook Luncheon and Expo at 12:45 p.m. EDT (1645 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will participate in a conversation on the economic outlook before virtual Global Interdependence Center Executive Briefing at 2 p.m. EDT (1800 GMT).
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a discussion on the US economy, the impact of inflation and the pandemic, and the boom of private credit and regulation in a"Linked Live" event at 2 p.m. EDT (1800 GMT).
St. Louis Federal Reserve Bank President Alberto Musalem, who took office on April 2, will give introductory remarks before the 2024 Women in Economics Symposium hosted by the Federal Reserve Bank of St. Louis. at 7:20 p.m. EDT (2320 GMT).
At the same event, Federal Reserve Board Governor Adriana Kugler will speak on"Enriching Data and Analysis in Economics with Real Life Experiences" at 7:30 p.m. EDT (2330 GMT).
Japan's real household spending is forecast to post its 12th straight drop on the year in February, down 3.0 percent, after a 6.3 percent slump in January, which was the largest drop in nearly three years. The leap-year effect and milder weather likely helped slow the decline but consumers are generally frugal amid elevated costs and car shipments have been delayed by Toyota group output suspension over a safety test scandal. On the month, expenditures are forecast to rise 0.3 percent for the first increase in five months after a 2.1 percent slip.
Australia's goods trade surplus for February is forecast at A$10.50 billion, narrowing from A$11.027 billion in January that for a second month in a row saw monthly gains for both imports and exports.
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.
