Highlights
In Germany, no revisions are expected to the provisional CPI data for May, leaving a 0.1 percent monthly and a 2.4 percent annual inflation rate, the latter up from April's final 2.2 percent.
In the monthly GDP data for April, the UK economy is expected to post a slight 0.1 percent rise, slowing from March's surprisingly strong 0.4 percent gain.
UK industrial production is expected to fall 0.1 percent on the month in April after rising 0.2 percent in March and 1.0 percent in February, both of which were a good deal better than expected. Manufacturing output, which in March rose 0.3 percent, is expected to fall back by 0.3 percent.
In India's CPI data, due at 8 a.m. EDT (1200 GMT), the annual inflation rate is expected to be little changed at 4.80 percent in May, compared to 4.83 percent in April and 4.85 percent in March. Industrial production is forecast to rise 4.6 percent on the year in May after rising 4.9 percent in April.
US consumer prices had been exceeding estimates until April's results which came in as forecast. Overall prices are expected to rise only 0.1 percent on the month in May after increasing 0.3 percent in April. Core prices also increased 0.3 percent in April with May's consensus at 0.3 percent. Annual rates, which in April were 3.4 percent overall and 3.6 percent for the core, are expected at 3.4 and 3.5 percent respectively, showing little progress in the Fed's efforts to tame inflation.
At 2 p.m. EDT (1800 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is widely expected to leave the target range for the federal funds rate in a range of 5.25 to 5.50 percent, which was last raised in July 2023. The Fed is keeping restrictive monetary conditions to bring inflation back to its 2 percent target from above 3 percent amid still tight labor conditions.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EDT (1830 GMT).
The US Treasury statement is forecast to show a $220.0 billion deficit in May that would compare with a deficit of $240.3 billion in May 2023 and a surplus of $209.5 billion in April this year. May is the eighth month of the government's fiscal year.
Employment growth in Australia is expected to slow to 27,000 in May after rebounding by a sharp 38,500 in April from an upwardly revised 5,900 drop in March. The unemployment rate is seen easing slightly to 4.0 percent after rising to an above-forecast 4.1 percent in April from an upwardly revised 3.9 percent in March.
In the monthly GDP data for April, the UK economy is expected to post a slight 0.1 percent rise, slowing from March's surprisingly strong 0.4 percent gain.
UK industrial production is expected to fall 0.1 percent on the month in April after rising 0.2 percent in March and 1.0 percent in February, both of which were a good deal better than expected. Manufacturing output, which in March rose 0.3 percent, is expected to fall back by 0.3 percent.
In India's CPI data, due at 8 a.m. EDT (1200 GMT), the annual inflation rate is expected to be little changed at 4.80 percent in May, compared to 4.83 percent in April and 4.85 percent in March. Industrial production is forecast to rise 4.6 percent on the year in May after rising 4.9 percent in April.
US consumer prices had been exceeding estimates until April's results which came in as forecast. Overall prices are expected to rise only 0.1 percent on the month in May after increasing 0.3 percent in April. Core prices also increased 0.3 percent in April with May's consensus at 0.3 percent. Annual rates, which in April were 3.4 percent overall and 3.6 percent for the core, are expected at 3.4 and 3.5 percent respectively, showing little progress in the Fed's efforts to tame inflation.
At 2 p.m. EDT (1800 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is widely expected to leave the target range for the federal funds rate in a range of 5.25 to 5.50 percent, which was last raised in July 2023. The Fed is keeping restrictive monetary conditions to bring inflation back to its 2 percent target from above 3 percent amid still tight labor conditions.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EDT (1830 GMT).
The US Treasury statement is forecast to show a $220.0 billion deficit in May that would compare with a deficit of $240.3 billion in May 2023 and a surplus of $209.5 billion in April this year. May is the eighth month of the government's fiscal year.
Employment growth in Australia is expected to slow to 27,000 in May after rebounding by a sharp 38,500 in April from an upwardly revised 5,900 drop in March. The unemployment rate is seen easing slightly to 4.0 percent after rising to an above-forecast 4.1 percent in April from an upwardly revised 3.9 percent in March.
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.
