Highlights
In Italy, no revisions are expected to the provisional CPI data for June, leaving a 0.8 percent annual CPI rate, unchanged from May's final reading.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment is mixed. The current conditions index is forecast minus 73.5 in July, up only slightly from June's minus 73.8, which was sharply lower than expected. By contrast, the report's expectations component (economic sentiment) is seen falling to 42.7 from June's 47.5, which also fell short of the consensus.
Canadian housing starts are expected to slow to 255,000 in June versus May's higher-than-expected 264,506 rate.
Canada's CPI data for June is forecast to show the annual inflation rate eased slightly to 2.8 percent after unexpectedly rising to 2.9 percent in May from April's 2.7 percent. It is the last key piece of data ahead of the Bank of Canada's policy decision on July 24, when policymakers will discuss whether the economic conditions will allow the bank to lower interest rates further soon, after conducting its first rate since March 2020 in June.
US retail sales in June are expected to fall 0.2 percent on the month after a 0.1 percent rise in May and a 0.2 percent dip in April. Such a result would wind up a dismal second quarter. Excluding autos, sales are expected to rise 0.1 percent after falling 0.1 percent in May. Excluding automobiles and gasoline, sales are also seen up 0.1 percent after rising at the same rate the previous month.
Import prices in June are expected to slip 0.1 percent versus a 0.4 percent decline in May. Export prices, which fell 0.6 percent in May, are seen falling another 0.1 percent. This report has been flat to disinflationary.
Business inventories in May are expected to rise 0.4 percent following a 0.3 percent build in April that included a vehicle-led 0.7 percent jump at retailers.
The US housing market index in June fell 2 points to 43, once again reflecting the negative impact of high financing rates. July's consensus is no change at 43.
Federal Reserve Board Governor Adriana Kugler will speak before the 21st Annual National Association for Business Economics Foundation Economic Measurement Seminar at 2:45 p.m. EDT (1845 GMT).
New Zealand's consumer inflation is forecast to ease to 0.5 percent on quarter in April-June from 0.6 percent in January-March. The annual rate is expected to moderate further to 3.5 percent in the second quarter after slowing to a nearly three-year low of 4.0 percent in the first quarter from 4.7 percent previously. Last week, the Reserve Bank of New Zealand held its policy interest rate at a restrictive level of 5.50 percent for the eighth straight meeting, as expected, to continue guiding inflation toward its 1 to 3 percent target, which it now sees happening in the second half of this year.
Singapore's non-oil exports in June are forecast to fall 1.2 percent on the year after slipping just 0.1 percent in May for the mildest decline in nearly two years and slumping 9.3 percent in April.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment is mixed. The current conditions index is forecast minus 73.5 in July, up only slightly from June's minus 73.8, which was sharply lower than expected. By contrast, the report's expectations component (economic sentiment) is seen falling to 42.7 from June's 47.5, which also fell short of the consensus.
Canadian housing starts are expected to slow to 255,000 in June versus May's higher-than-expected 264,506 rate.
Canada's CPI data for June is forecast to show the annual inflation rate eased slightly to 2.8 percent after unexpectedly rising to 2.9 percent in May from April's 2.7 percent. It is the last key piece of data ahead of the Bank of Canada's policy decision on July 24, when policymakers will discuss whether the economic conditions will allow the bank to lower interest rates further soon, after conducting its first rate since March 2020 in June.
US retail sales in June are expected to fall 0.2 percent on the month after a 0.1 percent rise in May and a 0.2 percent dip in April. Such a result would wind up a dismal second quarter. Excluding autos, sales are expected to rise 0.1 percent after falling 0.1 percent in May. Excluding automobiles and gasoline, sales are also seen up 0.1 percent after rising at the same rate the previous month.
Import prices in June are expected to slip 0.1 percent versus a 0.4 percent decline in May. Export prices, which fell 0.6 percent in May, are seen falling another 0.1 percent. This report has been flat to disinflationary.
Business inventories in May are expected to rise 0.4 percent following a 0.3 percent build in April that included a vehicle-led 0.7 percent jump at retailers.
The US housing market index in June fell 2 points to 43, once again reflecting the negative impact of high financing rates. July's consensus is no change at 43.
Federal Reserve Board Governor Adriana Kugler will speak before the 21st Annual National Association for Business Economics Foundation Economic Measurement Seminar at 2:45 p.m. EDT (1845 GMT).
New Zealand's consumer inflation is forecast to ease to 0.5 percent on quarter in April-June from 0.6 percent in January-March. The annual rate is expected to moderate further to 3.5 percent in the second quarter after slowing to a nearly three-year low of 4.0 percent in the first quarter from 4.7 percent previously. Last week, the Reserve Bank of New Zealand held its policy interest rate at a restrictive level of 5.50 percent for the eighth straight meeting, as expected, to continue guiding inflation toward its 1 to 3 percent target, which it now sees happening in the second half of this year.
Singapore's non-oil exports in June are forecast to fall 1.2 percent on the year after slipping just 0.1 percent in May for the mildest decline in nearly two years and slumping 9.3 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.
