Highlights
German producer prices are expected to slip 0.1 percent on the month in May after rising 0.2 percent in April. From a year earlier, the PPI is expected to contract 2.1 percent versus April's contraction of 3.3 percent.
Forecasters are divided over what the Swiss National Bank (SNB) will do this week after surprising the markets with a 25-basis-point cut in March. Predictions range from no change to rate cuts of 12.5 or 25 basis points, with the former Econoday's median estimate. At 1.4 percent, consumer inflation is low in Switzerland while the Swiss franc, which had been weak, has recently firmed.
With wages stubbornly robust and the economy having moved out of recession, no action is expected from the Bank of England's monetary policy meeting. Barring major weakness in Wednesday's CPI report, the first rate cut is generally expected to be deferred until no sooner than September, which is the first meeting after August's summer break.
US housing starts in May are expected to rebound only slightly to a 1.373 million annual rate versus April's much lower-than-expected 1.360 million rate. Permits, at 1.440 million in April and also lower than expected, are likewise seen rising modestly to a 1.450 million rate.
New jobless claims for the June 15 week are expected to fall modestly to 235,000 after climbing 13,000 to a much higher-than-expected 242,000 in the prior week.
The Philadelphia Fed manufacturing index in June is expected to hold steady at 5.2 versus May's 4.5, which was the fourth reading in a row in the plus column.
The first-quarter current account deficit is expected to widen to $205.5 billion versus a narrower-than-expected deficit of $194.8 billion in the fourth quarter that benefited from strength in exports.
The European Commission's consumer confidence index in June is expected to rise slightly to minus 13.7 versus May's minus 14.3. This index has been improving but only slowly.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a fireside chat before the Michigan Bankers Association Annual Conference at 8:45 a.m. EDT (1245 GMT).
Richmond Federal Reserve Bank President Thomas Barkin will speak before the Risk Management Association at 4 p.m. EDT (2000 GMT).
San Francisco Federal Reserve Bank President Mary Daly will participate in a panel discussion on The Transformative Power of AI: How is Technology Changing Our Lives?" in coordination with Syracuse University and the Maxwell School of Citizenship and Public Affairs at 10:15 p.m. EDT (0215 GMT Friday).
Consumer inflation in Japan is expected to rise in two of three key measures in May as the government raised the renewable energy charge that users pay for greener electricity purchased by utilities. The core CPI (excluding fresh food prices) is forecast to rise 2.6 percent on year in May after rising at a three-month low of 2.2 percent in April, down from 2.6 percent in March. The year-over-year increase in the total CPI is forecast at a seven-month high of 2.9 percent after slowing to 2.5 percent from 2.7 percent. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is expected to ease further to a 20-month low of 2.2 percent from 2.4 percent in April.
Forecasters are divided over what the Swiss National Bank (SNB) will do this week after surprising the markets with a 25-basis-point cut in March. Predictions range from no change to rate cuts of 12.5 or 25 basis points, with the former Econoday's median estimate. At 1.4 percent, consumer inflation is low in Switzerland while the Swiss franc, which had been weak, has recently firmed.
With wages stubbornly robust and the economy having moved out of recession, no action is expected from the Bank of England's monetary policy meeting. Barring major weakness in Wednesday's CPI report, the first rate cut is generally expected to be deferred until no sooner than September, which is the first meeting after August's summer break.
US housing starts in May are expected to rebound only slightly to a 1.373 million annual rate versus April's much lower-than-expected 1.360 million rate. Permits, at 1.440 million in April and also lower than expected, are likewise seen rising modestly to a 1.450 million rate.
New jobless claims for the June 15 week are expected to fall modestly to 235,000 after climbing 13,000 to a much higher-than-expected 242,000 in the prior week.
The Philadelphia Fed manufacturing index in June is expected to hold steady at 5.2 versus May's 4.5, which was the fourth reading in a row in the plus column.
The first-quarter current account deficit is expected to widen to $205.5 billion versus a narrower-than-expected deficit of $194.8 billion in the fourth quarter that benefited from strength in exports.
The European Commission's consumer confidence index in June is expected to rise slightly to minus 13.7 versus May's minus 14.3. This index has been improving but only slowly.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a fireside chat before the Michigan Bankers Association Annual Conference at 8:45 a.m. EDT (1245 GMT).
Richmond Federal Reserve Bank President Thomas Barkin will speak before the Risk Management Association at 4 p.m. EDT (2000 GMT).
San Francisco Federal Reserve Bank President Mary Daly will participate in a panel discussion on The Transformative Power of AI: How is Technology Changing Our Lives?" in coordination with Syracuse University and the Maxwell School of Citizenship and Public Affairs at 10:15 p.m. EDT (0215 GMT Friday).
Consumer inflation in Japan is expected to rise in two of three key measures in May as the government raised the renewable energy charge that users pay for greener electricity purchased by utilities. The core CPI (excluding fresh food prices) is forecast to rise 2.6 percent on year in May after rising at a three-month low of 2.2 percent in April, down from 2.6 percent in March. The year-over-year increase in the total CPI is forecast at a seven-month high of 2.9 percent after slowing to 2.5 percent from 2.7 percent. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is expected to ease further to a 20-month low of 2.2 percent from 2.4 percent in April.
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.
