Highlights
The German GfK consumer climate index in September is expected to improve further to minus 17.9 after August's much better-than-expected 2.2-point improvement to minus 18.4.
No revisions are expected to the initial readings of the German GDP data for the April-June quarter when the economy's total domestic output shrank 0.1 percent in real terms after growing 0.2 percent in the January-March period. Judging from GDP, exports, consumer spending and real wages, the German economy has been gradually picking up from its pandemic slump.
Hong Kong's merchandise trade deficit is forecast to narrow to HK$29.0 billion in July after widening to HK$55.7 billion in June from HK$12.1 billion in May. June's shortfall was the biggest since December 2023.
In the UK, the Confederation of British Industry (CBI) monthly survey on retailers and wholesalers is likely to show the sales balance index improved to minus 15 percent in August from minus 43 in July, when it unexpectedly plunged from minus 24 in June.
Among US data, the Case-Shiller home price index, which tracks monthly changes in the value of residential real estate, is forecast to show the adjusted 20-city monthly rate rose 0.2 percent on the month in June after rising 0.3 percent increase in May.
The Conference Board consumer confidence index in August is expected to be little changed, at a consensus 100.1, after improving to 100.3 in July from 97.8 in June. Despite the slight pickup, consumers were still worried about the future and less happy about the present in the face of the cooling labor market, elevated costs of living and uncertainty over family financial conditions.
In Australia, consumer inflation is forecast to moderate to 3.4 percent in July from June's as-expected 3.8 percent, which was down from May's 4.0 percent.
At its latest meeting on Aug. 6, the Reserve Bank of Australia board left its policy rate at 4.35 percent for the sixth straight meeting, as expected, after raising it by 25 basis points to 4.35 percent from 4.10 percent in November 2023. Governor Michele Bullock told reporters that the board considered a rate hike at the meeting, and that"the markets are getting ahead of themselves" pricing in a rate cut at this point.
No revisions are expected to the initial readings of the German GDP data for the April-June quarter when the economy's total domestic output shrank 0.1 percent in real terms after growing 0.2 percent in the January-March period. Judging from GDP, exports, consumer spending and real wages, the German economy has been gradually picking up from its pandemic slump.
Hong Kong's merchandise trade deficit is forecast to narrow to HK$29.0 billion in July after widening to HK$55.7 billion in June from HK$12.1 billion in May. June's shortfall was the biggest since December 2023.
In the UK, the Confederation of British Industry (CBI) monthly survey on retailers and wholesalers is likely to show the sales balance index improved to minus 15 percent in August from minus 43 in July, when it unexpectedly plunged from minus 24 in June.
Among US data, the Case-Shiller home price index, which tracks monthly changes in the value of residential real estate, is forecast to show the adjusted 20-city monthly rate rose 0.2 percent on the month in June after rising 0.3 percent increase in May.
The Conference Board consumer confidence index in August is expected to be little changed, at a consensus 100.1, after improving to 100.3 in July from 97.8 in June. Despite the slight pickup, consumers were still worried about the future and less happy about the present in the face of the cooling labor market, elevated costs of living and uncertainty over family financial conditions.
In Australia, consumer inflation is forecast to moderate to 3.4 percent in July from June's as-expected 3.8 percent, which was down from May's 4.0 percent.
At its latest meeting on Aug. 6, the Reserve Bank of Australia board left its policy rate at 4.35 percent for the sixth straight meeting, as expected, after raising it by 25 basis points to 4.35 percent from 4.10 percent in November 2023. Governor Michele Bullock told reporters that the board considered a rate hike at the meeting, and that"the markets are getting ahead of themselves" pricing in a rate cut at this point.
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.
