Highlights
In the UK, the ILO unemployment rate for the three months to June is expected to hold steady at 4.4 percent.
At 8:15 a.m. EDT (1415 CET/1215 GMT), the European Central Bank will release its monetary policy decision. The ECB is widely expected to stand pat after cutting its key interest rates by 25 basis points in June, putting the refi rate at 4.25 percent and the deposit rate at 3.75 percent. The Governing Council noted last month that while underlying inflation had eased, price pressures remained strong and that inflation was likely to stay above target well into next year.
ECB President Christine Lagarde will hold a post-meeting news conference at 8:45 a.m. EDT (1445 CET/1345 GMT).
Among US data, new jobless claims for the July 13 week are expected to come in at 225,000 versus a much lower-than-expected 222,000 in the prior week.
The Philadelphia Fed manufacturing index in July is expected to edge higher to 3.0 versus June's 1.3 which, for a fifth report in a row, managed to hold in the plus column.
The index of leading indicators has missed expectations the last three reports, falling 0.5 percent in May to extend this report's dark and gloomy trend. June's consensus is a 0.3 percent decline.
Dallas Federal Reserve Bank President Lorie Logan will give opening remarks before the"Exploring Conventional Bank Funding Regimes in an Unconventional World" conference co-sponsored by the Federal Reserve Bank of Dallas and Federal Reserve Bank of Atlanta at 1:45 p.m. EDT (1745 GMT).
At the same event, San Francisco Federal Reserve Bank President Mary Daly will participate in a fireside chat at 6:05 EDT (2205 GMT) and Federal Reserve Board Governor Michelle Bowman will speak at 7:30 p.m. EDT (2330 GMT).
Consumer inflation in Japan will accelerate in all three key measures in June on the effects of reduced subsidies for electricity and natural gas, following a sharp rise in May when a hike in renewable energy fees was reflected in utility bills. The core CPI (excluding fresh food prices), key to the Bank of Japan's policy stance, is forecast to rise 2.7 percent on year after the pace of increase picked up to 2.5 percent in May from 2.2 percent in April. The year-over-year increase in the total CPI is forecast at 2.9 percent in June, up slightly from 2.8 percent the previous month. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is also expected to edge up to 2.2 percent after easing to a 20-month low of 2.1 percent in May from April's 2.4 percent.
At 8:15 a.m. EDT (1415 CET/1215 GMT), the European Central Bank will release its monetary policy decision. The ECB is widely expected to stand pat after cutting its key interest rates by 25 basis points in June, putting the refi rate at 4.25 percent and the deposit rate at 3.75 percent. The Governing Council noted last month that while underlying inflation had eased, price pressures remained strong and that inflation was likely to stay above target well into next year.
ECB President Christine Lagarde will hold a post-meeting news conference at 8:45 a.m. EDT (1445 CET/1345 GMT).
Among US data, new jobless claims for the July 13 week are expected to come in at 225,000 versus a much lower-than-expected 222,000 in the prior week.
The Philadelphia Fed manufacturing index in July is expected to edge higher to 3.0 versus June's 1.3 which, for a fifth report in a row, managed to hold in the plus column.
The index of leading indicators has missed expectations the last three reports, falling 0.5 percent in May to extend this report's dark and gloomy trend. June's consensus is a 0.3 percent decline.
Dallas Federal Reserve Bank President Lorie Logan will give opening remarks before the"Exploring Conventional Bank Funding Regimes in an Unconventional World" conference co-sponsored by the Federal Reserve Bank of Dallas and Federal Reserve Bank of Atlanta at 1:45 p.m. EDT (1745 GMT).
At the same event, San Francisco Federal Reserve Bank President Mary Daly will participate in a fireside chat at 6:05 EDT (2205 GMT) and Federal Reserve Board Governor Michelle Bowman will speak at 7:30 p.m. EDT (2330 GMT).
Consumer inflation in Japan will accelerate in all three key measures in June on the effects of reduced subsidies for electricity and natural gas, following a sharp rise in May when a hike in renewable energy fees was reflected in utility bills. The core CPI (excluding fresh food prices), key to the Bank of Japan's policy stance, is forecast to rise 2.7 percent on year after the pace of increase picked up to 2.5 percent in May from 2.2 percent in April. The year-over-year increase in the total CPI is forecast at 2.9 percent in June, up slightly from 2.8 percent the previous month. Underlying inflation measured by the core-core CPI (excluding fresh food and energy) is also expected to edge up to 2.2 percent after easing to a 20-month low of 2.1 percent in May from April's 2.4 percent.
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.
