Highlights
In France, the INSEE business sentiment index is expected to hold unchanged at 99 in July.
Germany's Ifo business climate index in June fell to a lower-than-expected 88.6 from May's 89.3. July's consensus is partial recovery to 89.0.
The Eurozone's M3 money supply data is expected to show the three-month moving average increased 1.9 percent in June following May's 1.3 percent rise that extended a trend of gains.
The Confederation of British Industry (CBI) monthly survey of the UK manufacturing sector is expected to show the orders balance is edging up a couple of percentage points to minus 16 percent in July.
US durable goods orders are forecast to rise 0.3 percent on the month in June following a slight 0.1 percent rise in May. Excluding transportation, orders are seen up 0.2 percent in June while core capital goods, which dropped a sharp 0.6 percent in May, are expected to recover only 0.2 percent.
US second-quarter GDP is expected to improve to 1.9 percent annualized growth versus first quarter growth of 1.4 percent. Personal consumption expenditures, after the first quarter's 1.5 percent rate, are expected to rise 1.9 percent.
The US goods deficit (Census basis) is expected to narrow by $1.4 billion to $98.0 billion in June after deepening by $1.2 billion in May to $99.4 billion.
New jobless claims for the July 20 week are expected to come in at 238,000 versus a jump to 243,000 from 223,000 in the prior week.
Wholesale inventories are expected to increase 0.2 percent in the advance report for June that would follow a sizable 0.6 percent build in May.
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to accelerate slightly in the core reading (only fresh food is excluded) in July on higher utility bills but decelerate when energy is also stripped out. The government has ended its 18-month campaign to contain utility prices with subsidies and the persistently weak yen is keeping import costs high. The core CPI (excluding fresh food), closely watched by the Bank of Japan, is expected to post a 2.2 percent increase on year after rising to 2.1 percent in June from 1.9 percent in May due to reduced energy subsidies. The year-over-year rise in the total CPI is forecast at 2.3 percent after rising at the same rate the previous month. The core-core CPI (excluding fresh food and energy) annual rate is seen at 1.6 percent, down from 1.8 percent, amid easing processed food price markups.
Germany's Ifo business climate index in June fell to a lower-than-expected 88.6 from May's 89.3. July's consensus is partial recovery to 89.0.
The Eurozone's M3 money supply data is expected to show the three-month moving average increased 1.9 percent in June following May's 1.3 percent rise that extended a trend of gains.
The Confederation of British Industry (CBI) monthly survey of the UK manufacturing sector is expected to show the orders balance is edging up a couple of percentage points to minus 16 percent in July.
US durable goods orders are forecast to rise 0.3 percent on the month in June following a slight 0.1 percent rise in May. Excluding transportation, orders are seen up 0.2 percent in June while core capital goods, which dropped a sharp 0.6 percent in May, are expected to recover only 0.2 percent.
US second-quarter GDP is expected to improve to 1.9 percent annualized growth versus first quarter growth of 1.4 percent. Personal consumption expenditures, after the first quarter's 1.5 percent rate, are expected to rise 1.9 percent.
The US goods deficit (Census basis) is expected to narrow by $1.4 billion to $98.0 billion in June after deepening by $1.2 billion in May to $99.4 billion.
New jobless claims for the July 20 week are expected to come in at 238,000 versus a jump to 243,000 from 223,000 in the prior week.
Wholesale inventories are expected to increase 0.2 percent in the advance report for June that would follow a sizable 0.6 percent build in May.
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to accelerate slightly in the core reading (only fresh food is excluded) in July on higher utility bills but decelerate when energy is also stripped out. The government has ended its 18-month campaign to contain utility prices with subsidies and the persistently weak yen is keeping import costs high. The core CPI (excluding fresh food), closely watched by the Bank of Japan, is expected to post a 2.2 percent increase on year after rising to 2.1 percent in June from 1.9 percent in May due to reduced energy subsidies. The year-over-year rise in the total CPI is forecast at 2.3 percent after rising at the same rate the previous month. The core-core CPI (excluding fresh food and energy) annual rate is seen at 1.6 percent, down from 1.8 percent, amid easing processed food price markups.
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.
