Highlights
Inflation in the UK is expected to ease further in May, with the CPI annual rate sliding to 2.1 percent after decelerating to 2.3 percent in April from 3.2 percent in March.
In the UK producer price data for May, factory gate prices are forecast to rise just 0.1 percent on the month after rising 0.2 percent in April while the annual rate is seen accelerating further to 1.7 percent from 1.1 percent. Raw material and fuel costs are expected to post a 0.2 percent drop on the month after a higher-than-expected 0.6 percent gain in April but their year-over-year decline is seen shrinking to minus 0.2 percent from minus 1.6 percent.
Today's report is consistent with a gradual improvement in overall manufacturing conditions but the near-term outlook remains sluggish. Following this morning's suite of data, the UK's RPI and RPI-P both stand at 19, showing overall economic activity running slightly ahead of market forecasts.
The US housing market index dropped sharply in May, down 6 points to a much lower-than-expected 45 reflecting acceptance among builders that mortgage rates will not be coming down. June's consensus is no change at 45.
New Zealand's first quarter GDP data is likely to show a slight 0.1 percent rebound after a 0.1 percent fall in the previous quarter. It is expected to rise 0.2 percent on year after contracting 0.3 percent in October-December.
The People's Bank of China is expected to leave the one-year loan prime rate unchanged at 3.45 percent. This rate has been left unchanged since August 2023. The equivalent five-year rate is seen left on hold at 3.95 percent for a fourth consecutive month after it was cut by 25 basis points in February.
In the UK producer price data for May, factory gate prices are forecast to rise just 0.1 percent on the month after rising 0.2 percent in April while the annual rate is seen accelerating further to 1.7 percent from 1.1 percent. Raw material and fuel costs are expected to post a 0.2 percent drop on the month after a higher-than-expected 0.6 percent gain in April but their year-over-year decline is seen shrinking to minus 0.2 percent from minus 1.6 percent.
Today's report is consistent with a gradual improvement in overall manufacturing conditions but the near-term outlook remains sluggish. Following this morning's suite of data, the UK's RPI and RPI-P both stand at 19, showing overall economic activity running slightly ahead of market forecasts.
The US housing market index dropped sharply in May, down 6 points to a much lower-than-expected 45 reflecting acceptance among builders that mortgage rates will not be coming down. June's consensus is no change at 45.
New Zealand's first quarter GDP data is likely to show a slight 0.1 percent rebound after a 0.1 percent fall in the previous quarter. It is expected to rise 0.2 percent on year after contracting 0.3 percent in October-December.
The People's Bank of China is expected to leave the one-year loan prime rate unchanged at 3.45 percent. This rate has been left unchanged since August 2023. The equivalent five-year rate is seen left on hold at 3.95 percent for a fourth consecutive month after it was cut by 25 basis points in February.
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.
