Highlights
German industrial production in June is expected to rise 1.0 percent on the month after falling a sharp 2.5 percent in May. Year-over-year contraction is seen narrowing to 3.8 percent versus May's deep contraction of 6.7 percent.
German goods trade balance is expected to narrow to a €23.5 billion surplus versus a larger-than-expected surplus of €24.9 billion in May.
The UK Halifax price index is seen rising 0.2 percent on the month, unwinding June's surprise 0.2 percent decline.
US consumer credit is expected to increase $10.0 billion in June versus an increase of $11.3 billion in May.
The summary of the Bank of Japan's July 30-31 meeting is expected to show board members who were believed to have a neutral policy stance agreed to the upside risks to the board's inflation outlook that had been emphasized by a few hawkish voices while a couple of known doves remained more cautious about raising rates now before confirming that high wage hikes at large firms are spreading to smaller firms in hard data.
Governor Kazuo Ueda told reporters that a"gradual" pace of rate hikes at an early stage is better than jacking up interest rates later when upside risks to inflation materialize
The nine-member board decided in a 7 to 2 vote to raise the overnight interest rate target to 0.25 percent from a range of 0 percent to 0.1 percent, citing gradually rising inflation expectations among households and businesses and high but slightly easing uncertainties for the economy. It also warned of upside risks to its forecasts: The impact of currency market fluctuations on domestic prices is greater than in the past now that more firms are reflecting higher costs in prices and raising wages amid widespread labor shortages.
China's trade surplus is expected to hold steady at US$99.1 billion in July. June's report showed a strong 8.6 percent rise in annual exports with July's growth rate seen at 8.8 percent.
German goods trade balance is expected to narrow to a €23.5 billion surplus versus a larger-than-expected surplus of €24.9 billion in May.
The UK Halifax price index is seen rising 0.2 percent on the month, unwinding June's surprise 0.2 percent decline.
US consumer credit is expected to increase $10.0 billion in June versus an increase of $11.3 billion in May.
The summary of the Bank of Japan's July 30-31 meeting is expected to show board members who were believed to have a neutral policy stance agreed to the upside risks to the board's inflation outlook that had been emphasized by a few hawkish voices while a couple of known doves remained more cautious about raising rates now before confirming that high wage hikes at large firms are spreading to smaller firms in hard data.
Governor Kazuo Ueda told reporters that a"gradual" pace of rate hikes at an early stage is better than jacking up interest rates later when upside risks to inflation materialize
The nine-member board decided in a 7 to 2 vote to raise the overnight interest rate target to 0.25 percent from a range of 0 percent to 0.1 percent, citing gradually rising inflation expectations among households and businesses and high but slightly easing uncertainties for the economy. It also warned of upside risks to its forecasts: The impact of currency market fluctuations on domestic prices is greater than in the past now that more firms are reflecting higher costs in prices and raising wages amid widespread labor shortages.
China's trade surplus is expected to hold steady at US$99.1 billion in July. June's report showed a strong 8.6 percent rise in annual exports with July's growth rate seen at 8.8 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.
