Highlights
Taiwan's trade data due at 4 a.m. EDT (0800 GMT) is forecast to show that the surplus widened to $6.77 billion in June after narrowing to $6.05 billion in May from April's $6.46 billion.
In the US, the small business optimism index compiled by the National Federation of Independent Business (NFIB) is forecast at 90.3 in June after rising to an above-consensus 90.5 in May from April's 89.7 for the best showing so far this year.
The index has been below the historical average of 98 since January 2022.
Among Fed talk, Federal Reserve Vice Chair for Supervision Michael Barr will speak before the"Financial Inclusion Practices and Innovations" Conference hosted by the Federal Reserve Board at 9:15 a.m. EDT (1315 GMT).
Federal Reserve Chairman Jerome Powell will deliver a semi-annual monetary policy testimony before the Senate Banking Committee at 10 a.m. EDT (1400 GMT).
Federal Reserve Board Governor Michelle Bowman will give introductory remarks before the"Financial Inclusion Practices and Innovations" Conference hosted by the Federal Reserve Board at 1:30 p.m. (1715 GMT).
Producer inflation in Japan is expected to accelerate further to 2.9 percent in June on rising global energy and commodities markets and higher import costs aggravated by the weaker yen, after jumping to 2.4 percent in May from 0.9 percent in April. It would remain the highest increase since the 3.4 percent rise in August 2023. The government raised the renewable energy charge and halved subsidies for electricity and natural gas in May, which were reflected in June bills. On the month, the corporate goods price index (CGPI) is forecast to rise 0.4 percent for a fifth straight increase, following a sharp 0.7 percent gain in May, which was led by utilities (electricity), non-ferrous metals (copper), farm produce and jet fuel.
In China, consumer inflation in June is forecast at 0.4 percent, up slightly from 0.3 percent in May. China's CPI last peaked in January last year at 2.1 percent.
The year-over-year decline in Chinese producer prices is expected to moderate to 0.8 percent in June from 1.4 percent in May.
The Reserve Bank of New Zealand is widely expected to hold its policy interest rate at 5.50 percent for an eighth straight meeting. Consumer inflation eased to a nearly three-year low of 4.0 percent in the March quarter from 4.7 percent previously, but sticky service prices are keeping the annual rate above the RBNZ's target range of 1.0 percent to 3.0 percent. In its May policy decision, the bank said consumer inflation is expected to return to within the target range by the end of 2024. The RBNZ will release its policy decision at 2 p.m. in Wellington on Wednesday, which is 10 p.m. EDT Tuesday (0200 GMT Wednesday).
In the US, the small business optimism index compiled by the National Federation of Independent Business (NFIB) is forecast at 90.3 in June after rising to an above-consensus 90.5 in May from April's 89.7 for the best showing so far this year.
The index has been below the historical average of 98 since January 2022.
Among Fed talk, Federal Reserve Vice Chair for Supervision Michael Barr will speak before the"Financial Inclusion Practices and Innovations" Conference hosted by the Federal Reserve Board at 9:15 a.m. EDT (1315 GMT).
Federal Reserve Chairman Jerome Powell will deliver a semi-annual monetary policy testimony before the Senate Banking Committee at 10 a.m. EDT (1400 GMT).
Federal Reserve Board Governor Michelle Bowman will give introductory remarks before the"Financial Inclusion Practices and Innovations" Conference hosted by the Federal Reserve Board at 1:30 p.m. (1715 GMT).
Producer inflation in Japan is expected to accelerate further to 2.9 percent in June on rising global energy and commodities markets and higher import costs aggravated by the weaker yen, after jumping to 2.4 percent in May from 0.9 percent in April. It would remain the highest increase since the 3.4 percent rise in August 2023. The government raised the renewable energy charge and halved subsidies for electricity and natural gas in May, which were reflected in June bills. On the month, the corporate goods price index (CGPI) is forecast to rise 0.4 percent for a fifth straight increase, following a sharp 0.7 percent gain in May, which was led by utilities (electricity), non-ferrous metals (copper), farm produce and jet fuel.
In China, consumer inflation in June is forecast at 0.4 percent, up slightly from 0.3 percent in May. China's CPI last peaked in January last year at 2.1 percent.
The year-over-year decline in Chinese producer prices is expected to moderate to 0.8 percent in June from 1.4 percent in May.
The Reserve Bank of New Zealand is widely expected to hold its policy interest rate at 5.50 percent for an eighth straight meeting. Consumer inflation eased to a nearly three-year low of 4.0 percent in the March quarter from 4.7 percent previously, but sticky service prices are keeping the annual rate above the RBNZ's target range of 1.0 percent to 3.0 percent. In its May policy decision, the bank said consumer inflation is expected to return to within the target range by the end of 2024. The RBNZ will release its policy decision at 2 p.m. in Wellington on Wednesday, which is 10 p.m. EDT Tuesday (0200 GMT Wednesday).
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.
