Highlights
Ahead of the UK's general elections on Thursday, polls have shown the opposition Labour Party is set to score a landslide win to end 14 years of Conservative rule.
Switzerland's seasonally adjusted unemployment rate is expected to hold steady at 2.4 percent in June.
German manufacturing orders are expected to increase a monthly 1.0 percent in May versus April's 0.2 percent decline, which was the fourth month in a row to miss the consensus estimate.
Consumer inflation in Switzerland is widely expected to remain stable, with the annual rate forecast at 1.4 percent in June, the same as in the previous two months. Inflation rose to the current rate in April from 1.0 percent in March, marking the highest since 1.7 percent in December. The Swiss National Bank aims to keep inflation under 2 percent. On the month, consumer prices are expected to increase 0.2 percent after rising 0.3 percent in May.
UK construction activity is seen slowing in June, with the PMI forecast at 53.6 versus 54.7 in May, but the sector is still expected to show growth.
At 7:30 a.m. EDT (1130 GMT/1330 CET), the European Central Bank will release the minutes of its June 6 meeting at which the Governing Council decided to lower key interest rates by 25 basis points, as expected. The interest rate on the main refinancing operations now stands at 4.25 percent. The council said inflation has fallen by more than 2.5 percentage points since last September and that the inflation outlook has improved markedly.
US markets are closed for the Independence Day holiday.
Japan's real household spending is forecast to post its second straight year-over-year increase in May, but up just a slight 0.2 percent, as high living costs are making many consumers cautious, following an as-expected 0.5 percent gain in April, which was the first rise in 14 months. On the month, real average expenditures by households with two or more people are expected to rebound 0.7 percent on a seasonally adjusted basis, partially recovering from the 1.2 percent slump the previous month. Automobile purchases appeared to have rebounded after resumed vehicle production in March raised availabilities while demand for brand name goods remains strong at department stores.
Switzerland's seasonally adjusted unemployment rate is expected to hold steady at 2.4 percent in June.
German manufacturing orders are expected to increase a monthly 1.0 percent in May versus April's 0.2 percent decline, which was the fourth month in a row to miss the consensus estimate.
Consumer inflation in Switzerland is widely expected to remain stable, with the annual rate forecast at 1.4 percent in June, the same as in the previous two months. Inflation rose to the current rate in April from 1.0 percent in March, marking the highest since 1.7 percent in December. The Swiss National Bank aims to keep inflation under 2 percent. On the month, consumer prices are expected to increase 0.2 percent after rising 0.3 percent in May.
UK construction activity is seen slowing in June, with the PMI forecast at 53.6 versus 54.7 in May, but the sector is still expected to show growth.
At 7:30 a.m. EDT (1130 GMT/1330 CET), the European Central Bank will release the minutes of its June 6 meeting at which the Governing Council decided to lower key interest rates by 25 basis points, as expected. The interest rate on the main refinancing operations now stands at 4.25 percent. The council said inflation has fallen by more than 2.5 percentage points since last September and that the inflation outlook has improved markedly.
US markets are closed for the Independence Day holiday.
Japan's real household spending is forecast to post its second straight year-over-year increase in May, but up just a slight 0.2 percent, as high living costs are making many consumers cautious, following an as-expected 0.5 percent gain in April, which was the first rise in 14 months. On the month, real average expenditures by households with two or more people are expected to rebound 0.7 percent on a seasonally adjusted basis, partially recovering from the 1.2 percent slump the previous month. Automobile purchases appeared to have rebounded after resumed vehicle production in March raised availabilities while demand for brand name goods remains strong at department stores.
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.
