Highlights
The UK's annual consumer inflation rate is forecast at 2.0 percent in June after easing to 2.0 percent in May from 2.3 percent in April, returning to the Bank of England's target for the first time in three years.
In the UK producer prices data for June, both input and output prices are expected to rise 0.1 percent on the month.
In the Eurozone, no revisions are expected to the flash harmonised index of consumer prices (HICP) data for June, leaving a 2.5 percent annual inflation rate, down from May's final 2.6 percent. At 2.9 percent, the final narrow core CPI rate is seen matching both its flash and previous month's posts.
US housing starts in June are expected to rebound to a 1.305 million annual rate versus May's much lower-than-expected 1.277 million rate. Permits, at 1.399 million in May and which were also much lower than expected, are seen steady at a 1.395 million rate.
After May's unexpected and widespread 0.9 percent jump, US industrial production in July is expected to rise a further 0.3 percent. Manufacturing output, which also jumped 0.9 percent in May, is expected to be unchanged. Capacity utilization is expected to ease back to 78.5 percent following May's 0.5 percentage point jump to a higher-than-expected 78.7 percent.
Richmond Federal Reserve Bank President Thomas Barkin will give informal remarks on the economy before the Greater Prince George's Business Roundtable at 9 a.m. EDT (1300 GMT).
Federal Reserve Board Governor Christopher Waller will speak on the economic outlook at a hybrid event hosted by the Federal Reserve Bank of Kansas City at 9:35 a.m. EDT (1335 GMT).
Japanese export values are forecast to rise 6.1 percent for a seventh straight year-over-year increase in June, led by continued solid demand for semiconductors and chip-making equipment, but the pace of increase is seen slowing from 13.5 percent in May and 8.3 percent in April as the effects of the past rate hikes by major central banks weigh on global growth. Import values are expected to rise 6.4 percent for a third straight rise, led by computers and crude oil, following higher increases of 9.5 percent in May and 8.3 percent in April. The weak yen is pushing up import costs.
The trade balance is forecast to show a ¥142.3 billion deficit, with economist forecasts ranging widely from a deficit of ¥340.0 billion to a surplus of ¥244.4 billion. It would be a third straight monthly deficit after a revised ¥1,220.1 billion (¥1.22 trillion) deficit in May and compare with a ¥36.5 billion surplus in June 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) hit in January 2023.
In Australia, employment growth in June is expected to slow to 19,000 versus gains of 39,700 and 37,400 in the prior two months, which were both higher than expected. Unemployment is expected to rise to 4.1 percent from May's 4.0 percent rate.
In the UK producer prices data for June, both input and output prices are expected to rise 0.1 percent on the month.
In the Eurozone, no revisions are expected to the flash harmonised index of consumer prices (HICP) data for June, leaving a 2.5 percent annual inflation rate, down from May's final 2.6 percent. At 2.9 percent, the final narrow core CPI rate is seen matching both its flash and previous month's posts.
US housing starts in June are expected to rebound to a 1.305 million annual rate versus May's much lower-than-expected 1.277 million rate. Permits, at 1.399 million in May and which were also much lower than expected, are seen steady at a 1.395 million rate.
After May's unexpected and widespread 0.9 percent jump, US industrial production in July is expected to rise a further 0.3 percent. Manufacturing output, which also jumped 0.9 percent in May, is expected to be unchanged. Capacity utilization is expected to ease back to 78.5 percent following May's 0.5 percentage point jump to a higher-than-expected 78.7 percent.
Richmond Federal Reserve Bank President Thomas Barkin will give informal remarks on the economy before the Greater Prince George's Business Roundtable at 9 a.m. EDT (1300 GMT).
Federal Reserve Board Governor Christopher Waller will speak on the economic outlook at a hybrid event hosted by the Federal Reserve Bank of Kansas City at 9:35 a.m. EDT (1335 GMT).
Japanese export values are forecast to rise 6.1 percent for a seventh straight year-over-year increase in June, led by continued solid demand for semiconductors and chip-making equipment, but the pace of increase is seen slowing from 13.5 percent in May and 8.3 percent in April as the effects of the past rate hikes by major central banks weigh on global growth. Import values are expected to rise 6.4 percent for a third straight rise, led by computers and crude oil, following higher increases of 9.5 percent in May and 8.3 percent in April. The weak yen is pushing up import costs.
The trade balance is forecast to show a ¥142.3 billion deficit, with economist forecasts ranging widely from a deficit of ¥340.0 billion to a surplus of ¥244.4 billion. It would be a third straight monthly deficit after a revised ¥1,220.1 billion (¥1.22 trillion) deficit in May and compare with a ¥36.5 billion surplus in June 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) hit in January 2023.
In Australia, employment growth in June is expected to slow to 19,000 versus gains of 39,700 and 37,400 in the prior two months, which were both higher than expected. Unemployment is expected to rise to 4.1 percent from May's 4.0 percent rate.
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.
