Highlights
German retail sales volumes are expected to fall 0.5 percent on the month in May on top of April's unexpectedly steep 1.2 percent downturn.
Germany's unemployment rate for June is expected to hold steady at May's 5.9 percent, indicating the job market remains tight.
US personal income is expected to rise 0.4 percent in May, with consumption expenditures expected to increase 0.3 percent. These would compare with April's increases of 0.3 percent for income and 0.2 percent for consumption.
Inflation readings for May are expected at monthly increases of only 0.1 percent both overall and for the core (versus 0.3 and 0.2 percent in April). Annual rates are expected at 2.6 percent for both (versus April's 2.7 and 2.8 percent).
Canada's GDP in April is expected to rise 0.3 percent on the month after March's as-expected no growth. The Bank of Canada projected in April that the economy should expand at a solid pace of 1.5 percent annualized in the April-June quarter. At the time, the bank revised up its January-March GDP growth forecast to 2.8 percent but the actual figure released in May came in lower at 1.7 percent, although that was largely due to a sharp drop in inventories and consumption and business investment posted gains.
The Chicago PMI is expected to rise in June to 40.0 versus May's 35.4 that followed April's 37.9. This index has been in long ever-deepening contraction, missing Econoday's consensus in each of the last six reports and coming below the low estimate the last three reports.
The University of Michigan's consumer sentiment index is forecast at 65.7 for final June, up a tenth from the preliminary reading and down from 67.4 in May. Year-ahead inflation expectations for final June are seen unchanged at 3.3 percent.
Among Fed talk, Richmond Federal Reserve Bank President Thomas Barkin will speak before the Global Interdependence Center/Banque de France"Central Banking Series: Paris" conference at 6:40 a.m. EDT (1040 GMT).
Federal Reserve Board Governor Michelle Bowman will participate virtually in a discussion before the Ronald Reagan Presidential Foundation and Institute Leadership Council Conference at noon EDT (1600 GMT).
San Francisco Federal Reserve Bank President Mary Daly will discuss the impact of AI on business and the workforce before the Aspen Ideas Festival"Navigating Tomorrow's Economy" session at 12:40 EDT (1640 GMT).
Germany's unemployment rate for June is expected to hold steady at May's 5.9 percent, indicating the job market remains tight.
US personal income is expected to rise 0.4 percent in May, with consumption expenditures expected to increase 0.3 percent. These would compare with April's increases of 0.3 percent for income and 0.2 percent for consumption.
Inflation readings for May are expected at monthly increases of only 0.1 percent both overall and for the core (versus 0.3 and 0.2 percent in April). Annual rates are expected at 2.6 percent for both (versus April's 2.7 and 2.8 percent).
Canada's GDP in April is expected to rise 0.3 percent on the month after March's as-expected no growth. The Bank of Canada projected in April that the economy should expand at a solid pace of 1.5 percent annualized in the April-June quarter. At the time, the bank revised up its January-March GDP growth forecast to 2.8 percent but the actual figure released in May came in lower at 1.7 percent, although that was largely due to a sharp drop in inventories and consumption and business investment posted gains.
The Chicago PMI is expected to rise in June to 40.0 versus May's 35.4 that followed April's 37.9. This index has been in long ever-deepening contraction, missing Econoday's consensus in each of the last six reports and coming below the low estimate the last three reports.
The University of Michigan's consumer sentiment index is forecast at 65.7 for final June, up a tenth from the preliminary reading and down from 67.4 in May. Year-ahead inflation expectations for final June are seen unchanged at 3.3 percent.
Among Fed talk, Richmond Federal Reserve Bank President Thomas Barkin will speak before the Global Interdependence Center/Banque de France"Central Banking Series: Paris" conference at 6:40 a.m. EDT (1040 GMT).
Federal Reserve Board Governor Michelle Bowman will participate virtually in a discussion before the Ronald Reagan Presidential Foundation and Institute Leadership Council Conference at noon EDT (1600 GMT).
San Francisco Federal Reserve Bank President Mary Daly will discuss the impact of AI on business and the workforce before the Aspen Ideas Festival"Navigating Tomorrow's Economy" session at 12:40 EDT (1640 GMT).
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.
