Highlights
In Germany, producer prices are forecast to rise 0.3 percent on the month in April after edging 0.2 percent higher in March. Compared to a year earlier, the PPI is seen down 3.1 percent after falling 2.9 percent previously.
Canada's consumer inflation is expected to moderate to 2.7 percent in April after accelerating slightly to 2.9 percent in March from 2.8 percent in February. Food prices are cooling while energy costs are rising. The focus is the Bank of Canada's core measures, which are likely to ease further in April and may help the bank decide whether it would be appropriate to lower interest rates in June. The CPI trim slowed to 3.1 percent in March from 3.2 percent in February and the CPI median to 2.8 percent from 3.0 percent.
Richmond Federal Reserve Bank President Thomas Barkin will give opening remarks before the"2024 Investing in Rural America Conference: Building and Maintaining Momentum" hosted by the Federal Reserve Bank of Richmond at 9 a.m. EDT (1300 GMT).
Federal Reserve Board Governor Christopher Waller will speak on the economic outlook before an event hosted by the Peterson Institute for International Economics at 9 a.m. EDT (1300 GMT).
New York Federal Reserve Bank President John Williams will give opening remarks at 2024 Governance and Culture Reform Conference at 9:05 a.m. EDT (1305 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will give"welcome back" remarks before the 2024 Financial Markets Conference hosted by the Federal Reserve Bank of Atlanta at 9:10 a.m. EDT (1310 GMT).
Federal Reserve Vice Chair for Supervision Michael Barr will participate virtually in a discussion on"Bank Supervision and Regulation" at the 2024 Director & Executive Regional State Member Bank Conference hosted by the Federal Reserve Bank of Dallas at 11:45 a.m. EDT (1545 GMT).
Japanese export values are forecast to rise a sharp 11.1 percent for a fifth straight year-over-year increase in April after rising 7.3 percent in March, led by automobiles, semiconductors and chip-making equipment. Import values are expected to rebound 8.8 percent in light of higher prices of crude oil and purchases of aircraft and computers after falling a revised 5.1 percent in March and edging up 0.5 percent in February for the first rise in 11 months. The trade balance is forecast to show a ¥295.9 billion deficit after recording a revised ¥387.0 billion surplus in March and a ¥377.8 billion deficit in February. It would be narrower than a ¥429.8 billion deficit in April 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) hit in January 2023.
Japanese core machinery orders, the key leading indicator of business investment in equipment, are forecast to fall 1.1 percent on the month in March after surging 7.7 percent to a 13-month high in February, led by solid demand for computers, and falling 1.7 percent in January. Core orders are expected to post their first rise in four quarters in January-March, recovering from the drag of suspended vehicle output but miss the official projection of a 4.9 percent rebound. Core machinery orders, which track the private sector and exclude volatile orders from electric utilities and for ships, are expected to mark the first year-over-year rise in 13 months, up 2.3 percent, following a smaller-than-expected 1.8 percent dip in February.
The Reserve Bank of New Zealand is widely expected to hold its policy interest rate at 5.50 percent for a seventh straight meeting. Consumer inflation continued easing to a nearly three-year low of 4.0 percent in the March quarter from 4.7 percent previously, but the annual rate is still well above the RBNZ's target range of 1.0 percent to 3.0 percent. The RBNZ will release its policy decision at 2 p.m. in Wellington on Wednesday, which is 10 p.m. EDT Tuesday (0200 GMT Wednesday).
Canada's consumer inflation is expected to moderate to 2.7 percent in April after accelerating slightly to 2.9 percent in March from 2.8 percent in February. Food prices are cooling while energy costs are rising. The focus is the Bank of Canada's core measures, which are likely to ease further in April and may help the bank decide whether it would be appropriate to lower interest rates in June. The CPI trim slowed to 3.1 percent in March from 3.2 percent in February and the CPI median to 2.8 percent from 3.0 percent.
Richmond Federal Reserve Bank President Thomas Barkin will give opening remarks before the"2024 Investing in Rural America Conference: Building and Maintaining Momentum" hosted by the Federal Reserve Bank of Richmond at 9 a.m. EDT (1300 GMT).
Federal Reserve Board Governor Christopher Waller will speak on the economic outlook before an event hosted by the Peterson Institute for International Economics at 9 a.m. EDT (1300 GMT).
New York Federal Reserve Bank President John Williams will give opening remarks at 2024 Governance and Culture Reform Conference at 9:05 a.m. EDT (1305 GMT).
Atlanta Federal Reserve Bank President Raphael Bostic will give"welcome back" remarks before the 2024 Financial Markets Conference hosted by the Federal Reserve Bank of Atlanta at 9:10 a.m. EDT (1310 GMT).
Federal Reserve Vice Chair for Supervision Michael Barr will participate virtually in a discussion on"Bank Supervision and Regulation" at the 2024 Director & Executive Regional State Member Bank Conference hosted by the Federal Reserve Bank of Dallas at 11:45 a.m. EDT (1545 GMT).
Japanese export values are forecast to rise a sharp 11.1 percent for a fifth straight year-over-year increase in April after rising 7.3 percent in March, led by automobiles, semiconductors and chip-making equipment. Import values are expected to rebound 8.8 percent in light of higher prices of crude oil and purchases of aircraft and computers after falling a revised 5.1 percent in March and edging up 0.5 percent in February for the first rise in 11 months. The trade balance is forecast to show a ¥295.9 billion deficit after recording a revised ¥387.0 billion surplus in March and a ¥377.8 billion deficit in February. It would be narrower than a ¥429.8 billion deficit in April 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) hit in January 2023.
Japanese core machinery orders, the key leading indicator of business investment in equipment, are forecast to fall 1.1 percent on the month in March after surging 7.7 percent to a 13-month high in February, led by solid demand for computers, and falling 1.7 percent in January. Core orders are expected to post their first rise in four quarters in January-March, recovering from the drag of suspended vehicle output but miss the official projection of a 4.9 percent rebound. Core machinery orders, which track the private sector and exclude volatile orders from electric utilities and for ships, are expected to mark the first year-over-year rise in 13 months, up 2.3 percent, following a smaller-than-expected 1.8 percent dip in February.
The Reserve Bank of New Zealand is widely expected to hold its policy interest rate at 5.50 percent for a seventh straight meeting. Consumer inflation continued easing to a nearly three-year low of 4.0 percent in the March quarter from 4.7 percent previously, but the annual rate is still well above the RBNZ's target range of 1.0 percent to 3.0 percent. The RBNZ will release its policy decision at 2 p.m. in Wellington on Wednesday, which is 10 p.m. EDT Tuesday (0200 GMT Wednesday).
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.
