Highlights
In France, industrial production is expected to rebound 0.5 percent on the month in April after posting a much weaker-than-expected 0.3 percent (consensus was a 0.6 percent gain) in March and rising 0.2 percent in February.
The French composite PMI output index is expected to be unrevised at 49.1 for May, down from April's final 50.5.
Germany's May PMI data is expected to show the key composite output index is unrevised at 52.2, up from April's final 50.6.
In the Eurozone PMI data, the key composite output index is expected to be unrevised at 52.3 for May, up from April's final 51.7.
The UK PMI composite output index for May is expected to be unrevised at 52.8, down from April's final 54.1.
Eurozone producer prices have shown sustained weakness and are expected to fall 5.8 percent on the year in April, which would compare with 7.8 percent contraction in March. The monthly showing, at a consensus plus 0.1 percent in April, fell 0.4 percent in March which was the fifth straight decline.
Among US data, ADP's May employment report is expected to show jobs grew 173,000 in May. This would compare with April growth in private payrolls reported by the Bureau of Labor Statistics of 167,000. ADP's number for April was 192,000.
No change at the mid-month's 54.4 is the consensus for the services PMI's May final. This index ended April at 51.3.
US services sector activity measured by the Institute for Supply Management (ISM) is forecast to show a rebound in the main index to 50.7 in May after an unexpected 2-point slump to a 16-month low of 49.4 in April that followed 15 months of growth, hit by lingering concerns over inflation and geopolitical risks.
The Bank of Canada is expected to lower its policy interest rate -- the target for overnight lending rates -- by 25 basis points to 4.75 percent after maintaining it at 5.00 percent for the sixth straight meeting in April, when bank officials said they needed to see clearer evidence that inflation is on its way down to their 2% target before lowering the rate from the restrictive level. Since then, data have shown continued easing in consumer inflation and slower economic activity in Canada, opening the door for a June rate cut by the bank months ahead of the US Federal Reserve. Some forecasts expect the BoC to wait until July.
Australia's goods trade surplus is seen widening to A$5.8 billion in April from A$5.02 billion in March, which was lower than expected as exports extended their slump.
The French composite PMI output index is expected to be unrevised at 49.1 for May, down from April's final 50.5.
Germany's May PMI data is expected to show the key composite output index is unrevised at 52.2, up from April's final 50.6.
In the Eurozone PMI data, the key composite output index is expected to be unrevised at 52.3 for May, up from April's final 51.7.
The UK PMI composite output index for May is expected to be unrevised at 52.8, down from April's final 54.1.
Eurozone producer prices have shown sustained weakness and are expected to fall 5.8 percent on the year in April, which would compare with 7.8 percent contraction in March. The monthly showing, at a consensus plus 0.1 percent in April, fell 0.4 percent in March which was the fifth straight decline.
Among US data, ADP's May employment report is expected to show jobs grew 173,000 in May. This would compare with April growth in private payrolls reported by the Bureau of Labor Statistics of 167,000. ADP's number for April was 192,000.
No change at the mid-month's 54.4 is the consensus for the services PMI's May final. This index ended April at 51.3.
US services sector activity measured by the Institute for Supply Management (ISM) is forecast to show a rebound in the main index to 50.7 in May after an unexpected 2-point slump to a 16-month low of 49.4 in April that followed 15 months of growth, hit by lingering concerns over inflation and geopolitical risks.
The Bank of Canada is expected to lower its policy interest rate -- the target for overnight lending rates -- by 25 basis points to 4.75 percent after maintaining it at 5.00 percent for the sixth straight meeting in April, when bank officials said they needed to see clearer evidence that inflation is on its way down to their 2% target before lowering the rate from the restrictive level. Since then, data have shown continued easing in consumer inflation and slower economic activity in Canada, opening the door for a June rate cut by the bank months ahead of the US Federal Reserve. Some forecasts expect the BoC to wait until July.
Australia's goods trade surplus is seen widening to A$5.8 billion in April from A$5.02 billion in March, which was lower than expected as exports extended their slump.
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.
