Highlights
In the UK monthly GDP data, the economy is expected to have edged up a monthly 0.1 percent in June versus a 0.4 percent gain in May, putting quarterly growth at a respectable 0.6 percent following a 0.9 percent increase previously.
In the second quarter UK GDP data, total domestic output is seen rising a quarterly 0.6 percent versus 0.7 percent in the first quarter. Annual growth is seen at 1.0 percent, up from 0.3 percent.
Among other UK data, both manufacturing output and industrial production are expected to increase 0.1 percent versus May.
The global goods shortfall is put at £17.0 billion, an improvement on May's hefty £17.92 billion.
In Switzerland, the producer and import price index is forecast to rise 0.2 percent on the month in July versus June when they were unchanged from their May level.
US new jobless claims for the August 10 week are expected to come in steady at 234,000 versus 233,000 in the prior week. Claims have been up and down in recent weeks along a roughly 230,000 to 250,000 trend.
Retail sales in the US are expected to rise 0.3 percent in July versus no change in June, which beat expectations for a 0.3 percent decline. June's sales excluding vehicles increased 0.4 percent, with July expected to rise only 0.1 percent; July sales excluding vehicles and gasoline are expected at 0.3 percent versus the prior month's 0.8 percent jump.
The Philadelphia Fed manufacturing index in August is expected to slow to 5.8 from July's 13.9. Many readings in July's report, including new orders, posted multi-year highs.
The New York Fed's Empire State manufacturing index is expected to extend its long contraction in August, at a consensus minus 6.0 following July's minus 6.6. New orders in July were flat at minus 0.6.
US import prices in July are expected to decrease 0.1 percent versus no change percent in June. Export prices, which fell 0.5 percent in June, are also seen falling 0.1 percent.
US industrial production in July is expected to fall 0.1 percent after surprising gains of 0.9 percent in May and 0.6 percent in June. Manufacturing output, which rose 1.0 percent in May and 0.4 percent in June, is expected to fall 0.3 percent. Capacity utilization is expected to ease to 78.6 percent following 78.8 percent in June.
Business inventories in June are expected to rise 0.3 percent following a 0.5 percent increase in May that saw substantial 0.6 percent builds for both retailers and wholesalers.
The housing market index in July edged a point lower to 42 though expectations for future sales, helped by hopes for a Federal Reserve rate cut, did move higher. Nevertheless, August's consensus is no change at 42.
St. Louis Federal Reserve Bank President Alberto Musalem will speak on the US economy and monetary policy before the Greater Louisville Inc. Regional Economic Development Update at 9:10 a.m. EDT (1310 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker will speak on"Federal Reserve Bank of Philadelphia' Center for the Restoration of Economic Data (CREED)" before the"From Rasters to Rows: New Methods and Applications in Automated Data Extraction" event at 1:10 p.m. EDT (1710 GMT).
In the second quarter UK GDP data, total domestic output is seen rising a quarterly 0.6 percent versus 0.7 percent in the first quarter. Annual growth is seen at 1.0 percent, up from 0.3 percent.
Among other UK data, both manufacturing output and industrial production are expected to increase 0.1 percent versus May.
The global goods shortfall is put at £17.0 billion, an improvement on May's hefty £17.92 billion.
In Switzerland, the producer and import price index is forecast to rise 0.2 percent on the month in July versus June when they were unchanged from their May level.
US new jobless claims for the August 10 week are expected to come in steady at 234,000 versus 233,000 in the prior week. Claims have been up and down in recent weeks along a roughly 230,000 to 250,000 trend.
Retail sales in the US are expected to rise 0.3 percent in July versus no change in June, which beat expectations for a 0.3 percent decline. June's sales excluding vehicles increased 0.4 percent, with July expected to rise only 0.1 percent; July sales excluding vehicles and gasoline are expected at 0.3 percent versus the prior month's 0.8 percent jump.
The Philadelphia Fed manufacturing index in August is expected to slow to 5.8 from July's 13.9. Many readings in July's report, including new orders, posted multi-year highs.
The New York Fed's Empire State manufacturing index is expected to extend its long contraction in August, at a consensus minus 6.0 following July's minus 6.6. New orders in July were flat at minus 0.6.
US import prices in July are expected to decrease 0.1 percent versus no change percent in June. Export prices, which fell 0.5 percent in June, are also seen falling 0.1 percent.
US industrial production in July is expected to fall 0.1 percent after surprising gains of 0.9 percent in May and 0.6 percent in June. Manufacturing output, which rose 1.0 percent in May and 0.4 percent in June, is expected to fall 0.3 percent. Capacity utilization is expected to ease to 78.6 percent following 78.8 percent in June.
Business inventories in June are expected to rise 0.3 percent following a 0.5 percent increase in May that saw substantial 0.6 percent builds for both retailers and wholesalers.
The housing market index in July edged a point lower to 42 though expectations for future sales, helped by hopes for a Federal Reserve rate cut, did move higher. Nevertheless, August's consensus is no change at 42.
St. Louis Federal Reserve Bank President Alberto Musalem will speak on the US economy and monetary policy before the Greater Louisville Inc. Regional Economic Development Update at 9:10 a.m. EDT (1310 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker will speak on"Federal Reserve Bank of Philadelphia' Center for the Restoration of Economic Data (CREED)" before the"From Rasters to Rows: New Methods and Applications in Automated Data Extraction" event at 1:10 p.m. EDT (1710 GMT).
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.
