Highlights
Switzerland's seasonally adjusted unemployment rate is expected to be unchanged at the 2.5 percent level to which it rose in July.
German manufacturing orders are expected to decrease a monthly 1.8 percent in July versus June's 3.9 percent swing higher that was led by the auto sector.
In Taiwan, consumer prices in August are expected to rise 2.2 percent versus July's 2.52 percent year-over-year rate.
The UK construction sector PMI is expected to slip from 55.3 to a still solid 54.4.
In the Eurozone, retail sales volumes in July are expected to rise 0.1 percent on the month after June's unexpectedly weak 0.3 percent fall. The annual rate is also seen at 0.1 percent which would also compare with minus 0.3 percent.
In the US, forecasters see ADP's August employment number at 140,000. This would compare with July growth in private payrolls reported by the Bureau of Labor Statistics of 97,000. ADP's number for July was 122,000.
Jobless claims appear to have settled near the 230,000 level consistent with tight labor conditions. Consensus for the August 31 week is 230,000 versus 231,000 in the prior week.
The second-estimate for second-quarter nonfarm productivity is expected to rise 2.4 percent versus 2.3 percent annualized growth in the first estimate. Unit labor costs, which rose 0.9 percent in the first estimate for the second quarter, are expected to be reported up at a 0.8 percent rate in the second estimate.
No change at the mid-month's 55.2 is the consensus for the services PMI's August final. This index ended July at 55.0. The composite flash is also expected to be unchanged from the first estimate, at 54.1.
ISM services in July rebounded to 51.4 from July's dip to 48.8. August's consensus is a small step back to 51.1.
Japan's real household spending is forecast to be nearly flat, up just 1.0 percent on year in July (there is a high downside risk), after falling 1.4 percent in June for a second straight drop, which was caused by volatile factors including home maintenance and car purchases. The killer heat wave is wreaking havoc across Japan, claiming many lives and sending others to hospitals. It also boosted consumer prices at a time when many households are being hit by higher utility bills as the government ended its 18-month-long subsidies.
On the month, real average expenditures by households with two or more people are expected to slump 0.6 percent after edging up 0.1 percent and falling the previous two months. Record high temperatures in many regions propped up demand for air conditioners, refrigerators and beverages but it was dangerous to stay outdoors.
German manufacturing orders are expected to decrease a monthly 1.8 percent in July versus June's 3.9 percent swing higher that was led by the auto sector.
In Taiwan, consumer prices in August are expected to rise 2.2 percent versus July's 2.52 percent year-over-year rate.
The UK construction sector PMI is expected to slip from 55.3 to a still solid 54.4.
In the Eurozone, retail sales volumes in July are expected to rise 0.1 percent on the month after June's unexpectedly weak 0.3 percent fall. The annual rate is also seen at 0.1 percent which would also compare with minus 0.3 percent.
In the US, forecasters see ADP's August employment number at 140,000. This would compare with July growth in private payrolls reported by the Bureau of Labor Statistics of 97,000. ADP's number for July was 122,000.
Jobless claims appear to have settled near the 230,000 level consistent with tight labor conditions. Consensus for the August 31 week is 230,000 versus 231,000 in the prior week.
The second-estimate for second-quarter nonfarm productivity is expected to rise 2.4 percent versus 2.3 percent annualized growth in the first estimate. Unit labor costs, which rose 0.9 percent in the first estimate for the second quarter, are expected to be reported up at a 0.8 percent rate in the second estimate.
No change at the mid-month's 55.2 is the consensus for the services PMI's August final. This index ended July at 55.0. The composite flash is also expected to be unchanged from the first estimate, at 54.1.
ISM services in July rebounded to 51.4 from July's dip to 48.8. August's consensus is a small step back to 51.1.
Japan's real household spending is forecast to be nearly flat, up just 1.0 percent on year in July (there is a high downside risk), after falling 1.4 percent in June for a second straight drop, which was caused by volatile factors including home maintenance and car purchases. The killer heat wave is wreaking havoc across Japan, claiming many lives and sending others to hospitals. It also boosted consumer prices at a time when many households are being hit by higher utility bills as the government ended its 18-month-long subsidies.
On the month, real average expenditures by households with two or more people are expected to slump 0.6 percent after edging up 0.1 percent and falling the previous two months. Record high temperatures in many regions propped up demand for air conditioners, refrigerators and beverages but it was dangerous to stay outdoors.
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.
