Highlights
In the UK, the ILO unemployment rate for the second quarter is expected to edge higher to 4.5 percent from 4.4 percent while average earnings growth slows sharply to also 4.5 percent.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment is deteriorating amid the wobbly economic recovery seen in the slight GDP contraction in April-June. The current conditions index is forecast at minus 74.5 in August, down from a better-than-expected minus 68.9 in July, when it improved from minus 73.8 in June. The report's expectations component (economic sentiment) is seen drifting down further to 34.5 in August from 41.8 in July and June's 47.5, both of which were below consensus.
The US small business optimism index compiled by the National Federation of Independent Business (NFIB) is expected to be little changed at 91.7 in July after rising to an above-consensus 91.5 in June from 90.5 in May. It has been below the historical average of 98 since January 2022.
US producer prices, which have been slowly climbing, are expected to rise 0.2 percent on the month in July to match June's increase. The annual rate in July is seen at 2.6 percent, which would also match June's increase. Excluding food and energy prices, the ate is seen up 0.2 percent on the month and up 3.0 percent on the year, following respective gains of 0.4 and 3.0 percent.
Atlanta Federal Reserve Bank President Raphael Bostic will speak on the economic outlook in a moderated conversation before the Conference of African American Financial Professionals at 1:15 p.m. EDT (1715 GMT).
The Reserve Bank of New Zealand will release its policy decision at 2 p.m. in Wellington on Wednesday, which is 10 p.m. EDT Tuesday (0200 GMT Wednesday).
The RBNZ is widely expected to hold its policy interest rate at 5.50 percent for a ninth straight meeting. The annual consumer inflation rate has eased to 3.3 percent in the April-June quarter from 4.0 percent in January-March and 4.7 percent previously, but it is still just above the RBNZ's target range of 1.0 percent to 3.0 percent. In its July policy decision, the bank said consumer inflation is expected to return to within the target range in the second half of this year. July-September CPI data is due on Oct. 17.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment is deteriorating amid the wobbly economic recovery seen in the slight GDP contraction in April-June. The current conditions index is forecast at minus 74.5 in August, down from a better-than-expected minus 68.9 in July, when it improved from minus 73.8 in June. The report's expectations component (economic sentiment) is seen drifting down further to 34.5 in August from 41.8 in July and June's 47.5, both of which were below consensus.
The US small business optimism index compiled by the National Federation of Independent Business (NFIB) is expected to be little changed at 91.7 in July after rising to an above-consensus 91.5 in June from 90.5 in May. It has been below the historical average of 98 since January 2022.
US producer prices, which have been slowly climbing, are expected to rise 0.2 percent on the month in July to match June's increase. The annual rate in July is seen at 2.6 percent, which would also match June's increase. Excluding food and energy prices, the ate is seen up 0.2 percent on the month and up 3.0 percent on the year, following respective gains of 0.4 and 3.0 percent.
Atlanta Federal Reserve Bank President Raphael Bostic will speak on the economic outlook in a moderated conversation before the Conference of African American Financial Professionals at 1:15 p.m. EDT (1715 GMT).
The Reserve Bank of New Zealand will release its policy decision at 2 p.m. in Wellington on Wednesday, which is 10 p.m. EDT Tuesday (0200 GMT Wednesday).
The RBNZ is widely expected to hold its policy interest rate at 5.50 percent for a ninth straight meeting. The annual consumer inflation rate has eased to 3.3 percent in the April-June quarter from 4.0 percent in January-March and 4.7 percent previously, but it is still just above the RBNZ's target range of 1.0 percent to 3.0 percent. In its July policy decision, the bank said consumer inflation is expected to return to within the target range in the second half of this year. July-September CPI data is due on Oct. 17.
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.
