Highlights
US consumer prices have come in on the high end of Econoday's consensus ranges the past three reports. Core prices in March are expected to slow to a monthly increase of 0.3 percent from 0.4 percent in February. Overall prices are also expected to rise 0.3 after also increasing 0.4 percent in February. Annual rates, which in February were 3.2 percent overall and 3.8 percent for the core, are expected at 3.5 and 3.7 percent respectively.
Among other US data, the second estimate for February wholesale inventories is for a 0.5 percent build that would be unchanged from the first estimate.
The Treasury statement is expected to show a $340 billion deficit in March that would compare with a deficit of $296.3 billion in February this year and a deficit of $378.1 billion in March 2023. March is the sixth month of the government's fiscal year.
The Bank of Canada is widely expected to maintain its policy interest rate -- the target for overnight lending rates -- at 5.0 percent for a sixth straight meeting. In the coming months, the bank's policymakers will have to make a tough decision as to when they should start lowering the rate from the restrictive level amid mixed economic indicators. The jobless rate jumped to 6.1 percent in March from 5.8 percent in February but growth in average hourly wages edged up to 5.1 percent on year after easing to 5.0 percent. Consumer inflation eased gradually to 2.8 percent in February while GDP showed the economy started the year with a robust 0.6 percent gain on the month in January and a further 0.4 percent rise is expected.
Federal Reserve Board Governor Michelle Bowman will participate virtually in a discussion on"Basel Capital Requirements" before the European Bank Executive Forum at 8:45 a.m. EDT (1245 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a panel before the Social Finance Institute at 12:45 p.m. EDT (1645 GMT).
At 2 p.m. EDT (1800 GMT), the Federal Open Market Committee will release the minutes of its March 19-20 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 3 percent as the US economy remains resilient despite high borrowing costs. It last raised rates in July 2023.
In China, consumer inflation is forecast to ease to 0.5 percent in March from 0.7 percent in February, which was the first year-over-year increase in six months. The CPI last peaked at 2.1 percent in January 2023.
Producer prices are expected to be in contraction for an 18th month in a row, down 2.8 percent on year in March, little changed from a 2.7 percent fall in February, as the Chinese economy is struggling to recover.
Among other US data, the second estimate for February wholesale inventories is for a 0.5 percent build that would be unchanged from the first estimate.
The Treasury statement is expected to show a $340 billion deficit in March that would compare with a deficit of $296.3 billion in February this year and a deficit of $378.1 billion in March 2023. March is the sixth month of the government's fiscal year.
The Bank of Canada is widely expected to maintain its policy interest rate -- the target for overnight lending rates -- at 5.0 percent for a sixth straight meeting. In the coming months, the bank's policymakers will have to make a tough decision as to when they should start lowering the rate from the restrictive level amid mixed economic indicators. The jobless rate jumped to 6.1 percent in March from 5.8 percent in February but growth in average hourly wages edged up to 5.1 percent on year after easing to 5.0 percent. Consumer inflation eased gradually to 2.8 percent in February while GDP showed the economy started the year with a robust 0.6 percent gain on the month in January and a further 0.4 percent rise is expected.
Federal Reserve Board Governor Michelle Bowman will participate virtually in a discussion on"Basel Capital Requirements" before the European Bank Executive Forum at 8:45 a.m. EDT (1245 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a panel before the Social Finance Institute at 12:45 p.m. EDT (1645 GMT).
At 2 p.m. EDT (1800 GMT), the Federal Open Market Committee will release the minutes of its March 19-20 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 3 percent as the US economy remains resilient despite high borrowing costs. It last raised rates in July 2023.
In China, consumer inflation is forecast to ease to 0.5 percent in March from 0.7 percent in February, which was the first year-over-year increase in six months. The CPI last peaked at 2.1 percent in January 2023.
Producer prices are expected to be in contraction for an 18th month in a row, down 2.8 percent on year in March, little changed from a 2.7 percent fall in February, as the Chinese economy is struggling to recover.
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.
