Highlights
Switzerland's producer and import price index is forecast to post a 0.5 percent increase on the month in May following April's 0.6 percent jump.
In Italy, the monthly data already released point to a 7.2 percent first quarter jobless rate, down from 7.4 percent at the end of 2023.
Eurozone industrial production in April is expected to rise a monthly 0.1 percent after proving a stronger-than-expected in March, rising 0.6 percent on the month.
Among US data, new jobless claims for the June 13 week are expected to come in at 225,000, down from 229,000 in the prior week.
Producer prices in May are expected to rise 0.1 percent on the month versus a higher-than-expected 0.5 percent increase in April. The annual rate in May is seen at 2.4 percent, up from April's 2.2 percent. Excluding food and energy, producer prices are seen up 0.3 percent on the month versus 0.5 percent the previous month and up 2.3 percent on the year versus 2.4 percent.
New York Federal Reserve Bank President John Williams will moderate a discussion before the Economic Club of New York at 12 p.m. EDT (1600 GMT).
The Bank of Japan's nine-member board is widely expected to vote unanimously to leave the overnight interest rate target in a range of zero to 0.1 percent for a second straight meeting after conducting its first rate hike in 17 years and ending the seven-year-old yield curve control framework in a 7 to 2 vote in March. The next rate hike is likely to be in July, September or October, when the board can confirm more evidence of how wage hikes are spreading to smaller firms. Since the short-term rate is still very low, bank officials have stressed that the monetary conditions will remain accommodative for now. But Governor Kazuo Ueda has also said that if the depreciation of the yen pushes up import costs and thus inflation, having a huge impact that cannot be ignored,"it could cause a change in monetary policy."
The board is also expected to discuss what to do with the bank's large-scale asset purchases in the process of normalizing monetary policy. The summary of the last meeting on April 25-26 meeting quoted one member as saying that"one option is to reduce the bank's monthly purchase amount of JGBs (Japanese government bonds) -- which is currently about 6 trillion yen per month -- based on the supply and demand balance of JGBs, with the aim of restoring market functioning."
In Italy, the monthly data already released point to a 7.2 percent first quarter jobless rate, down from 7.4 percent at the end of 2023.
Eurozone industrial production in April is expected to rise a monthly 0.1 percent after proving a stronger-than-expected in March, rising 0.6 percent on the month.
Among US data, new jobless claims for the June 13 week are expected to come in at 225,000, down from 229,000 in the prior week.
Producer prices in May are expected to rise 0.1 percent on the month versus a higher-than-expected 0.5 percent increase in April. The annual rate in May is seen at 2.4 percent, up from April's 2.2 percent. Excluding food and energy, producer prices are seen up 0.3 percent on the month versus 0.5 percent the previous month and up 2.3 percent on the year versus 2.4 percent.
New York Federal Reserve Bank President John Williams will moderate a discussion before the Economic Club of New York at 12 p.m. EDT (1600 GMT).
The Bank of Japan's nine-member board is widely expected to vote unanimously to leave the overnight interest rate target in a range of zero to 0.1 percent for a second straight meeting after conducting its first rate hike in 17 years and ending the seven-year-old yield curve control framework in a 7 to 2 vote in March. The next rate hike is likely to be in July, September or October, when the board can confirm more evidence of how wage hikes are spreading to smaller firms. Since the short-term rate is still very low, bank officials have stressed that the monetary conditions will remain accommodative for now. But Governor Kazuo Ueda has also said that if the depreciation of the yen pushes up import costs and thus inflation, having a huge impact that cannot be ignored,"it could cause a change in monetary policy."
The board is also expected to discuss what to do with the bank's large-scale asset purchases in the process of normalizing monetary policy. The summary of the last meeting on April 25-26 meeting quoted one member as saying that"one option is to reduce the bank's monthly purchase amount of JGBs (Japanese government bonds) -- which is currently about 6 trillion yen per month -- based on the supply and demand balance of JGBs, with the aim of restoring market functioning."
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.
