Highlights
Consumer inflation in the UK is expected to show a meaningful moderation in April, with the year-over-year rate of increase in the total CPI easing to 2.2 percent, down sharply from 3.2 percent in March, which was slightly higher than expected and reflected sticky services costs.
Having surprised on the upside in March, the UK's overall net borrowing (PSNB) is seen at £18.5 billion in April with the shortfall excluding public sector banks at £19.4 billion.
The downward pressure on producer prices in the UK is expected to ease. The year-over-year decline in input prices is forecast at 1.4 percent in April, smaller than a 2.5 percent drop in March. Output prices are expected to rise 1.1 percent on year, up from a 0.6 percent rise.
US existing home sales in April are expected to hold steady at 4.195 million after March's decline from February's 4.38 million annualized rate to 4.19 million that reflected high mortgage rates and high prices.
Chicago Federal Reserve Bank President Austan Goolsbee will give opening remarks before the hybrid Holding Company Symposium hosted by the Federal Reserve Bank of Chicago at 9:40 a.m. EDT (1340 GMT).
In New Zealand, retail sales are expected to fall 0.4 percent on quarter in the January-March period, with the pace of decrease decelerating from a 1.9 percent fall in October-December. The retail sector has been reeling under the weight of aggressive policy tightening by the Reserve Bank of New Zealand.
The Bank of Korea is expected to remain cautious about easing, leaving the policy rate at a restrictive level of 3.50 percent for an 11th straight meeting. It last raised the Base Rate by 25 basis points to the current level in January 2023. The year-over-year increase in consumer prices slowed to 2.9 percent in April from 3.1 percent in March but it is still above the bank's 2 percent target.
Having surprised on the upside in March, the UK's overall net borrowing (PSNB) is seen at £18.5 billion in April with the shortfall excluding public sector banks at £19.4 billion.
The downward pressure on producer prices in the UK is expected to ease. The year-over-year decline in input prices is forecast at 1.4 percent in April, smaller than a 2.5 percent drop in March. Output prices are expected to rise 1.1 percent on year, up from a 0.6 percent rise.
US existing home sales in April are expected to hold steady at 4.195 million after March's decline from February's 4.38 million annualized rate to 4.19 million that reflected high mortgage rates and high prices.
Chicago Federal Reserve Bank President Austan Goolsbee will give opening remarks before the hybrid Holding Company Symposium hosted by the Federal Reserve Bank of Chicago at 9:40 a.m. EDT (1340 GMT).
In New Zealand, retail sales are expected to fall 0.4 percent on quarter in the January-March period, with the pace of decrease decelerating from a 1.9 percent fall in October-December. The retail sector has been reeling under the weight of aggressive policy tightening by the Reserve Bank of New Zealand.
The Bank of Korea is expected to remain cautious about easing, leaving the policy rate at a restrictive level of 3.50 percent for an 11th straight meeting. It last raised the Base Rate by 25 basis points to the current level in January 2023. The year-over-year increase in consumer prices slowed to 2.9 percent in April from 3.1 percent in March but it is still above the bank's 2 percent target.
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.
