Highlights
The German GfK consumer climate index for October is expected to fall further to minus 22.3 after slipping to minus 22.0 in September from minus 18.6 in August, hit by declining income expectations and a slight rise in the propensity to save.
The Swiss National Bank (SNB) is widely forecast to conduct another rate cut this month, lowering its policy interest rate by 25 basis points to 1.00 percent. This would follow a cut of 25 basis points to 1.25 percent in June and an unexpected 25-point reduction in March, when the SNB became the first major central bank to ease rates during the current cycle.
The Eurozone's money supply data is expected to show the three-month moving average is expected rose 2.4 percent in August following July's 2.0 percent increase that extended a trend of gains consistent with gradual economic recovery.
US durable goods orders falling 2.7 percent in August following a 9.8 percent aircraft-driven rebound in July. Ex-transportation orders are seen unchanged in August with core capital goods, which dropped 0.1 percent in July, expected to remain unchanged as well.
Consensus for the third estimate of second-quarter US GDP is 3.0 percent growth versus 3.0 percent in the second estimate. Personal consumption expenditures, at 2.9 percent growth in the second estimate, is expected to come in at 2.9 percent in the third estimate.
New jobless claims appear to have settled near the 230,000-level consistent with tight labor conditions. Consensus for the September 21 week is at 224,500.
US pending home sales in August, which in July fell an unexpected 5.5 percent despite lower rates in the month, are seen rising 3.1 percent.
Boston Federal Reserve Bank President Susan Collins will host virtually a fireside chat with (INVITED) Federal Reserve Board Governor Adriana Kugler focused on the intersection between bank supervision and financial inclusion as part of the Boston Fed's Financial Inclusion and Banking Supervision Workshop at 9:10 a.m. (1310 GMT).
Federal Reserve Board Governor Michelle Bowman will speak on the economic outlook and monetary policy before the Mid-Sized Bank Coalition of America Board of Directors Workshop at 9:15 a.m. (1315 GMT).
Federal Reserve Chairman Jerome Powell will give opening remarks before the 2024 Treasury Market Conference hosted by the Federal Reserve Bank of New York at 9:20 a.m. (1320 GMT).
Among other speakers at the event are New York Federal Reserve Bank President John Williams at 9:25 a.m. (1325 GMT) and Federal Reserve Vice Chair for Supervision Michael Barr at 10:30 a.m. (1430 GMT).
Federal Reserve Board Governor Lisa Cook will participate in an"Artificial Intelligence and Workforce Development" roundtable discussion with Community Stakeholders, hosted by the Federal Reserve Bank of Cleveland and Columbus State Community College at 10:30 a.m. (1430 GMT). She will also give a lecture on"Artificial Intelligence and the Labor Force" before the Ohio State University President and Provost's Diversity Lecture and Cultural Arts Series at 6 p.m. (2200 GMT).
Minneapolis Federal Reserve Bank President Neel Kashkari will host virtually a fireside chat with Federal Reserve Vice Chair for Supervision Michael Barr on the Fed's community development work, especially in Indian Country, plus opportunities and challenges associated with AI and machine learning to increase access to credit, as part of the Boston Fed's Financial Inclusion and Banking Supervision Workshop at 1 p.m. (1700 GMT).
The Swiss National Bank (SNB) is widely forecast to conduct another rate cut this month, lowering its policy interest rate by 25 basis points to 1.00 percent. This would follow a cut of 25 basis points to 1.25 percent in June and an unexpected 25-point reduction in March, when the SNB became the first major central bank to ease rates during the current cycle.
The Eurozone's money supply data is expected to show the three-month moving average is expected rose 2.4 percent in August following July's 2.0 percent increase that extended a trend of gains consistent with gradual economic recovery.
US durable goods orders falling 2.7 percent in August following a 9.8 percent aircraft-driven rebound in July. Ex-transportation orders are seen unchanged in August with core capital goods, which dropped 0.1 percent in July, expected to remain unchanged as well.
Consensus for the third estimate of second-quarter US GDP is 3.0 percent growth versus 3.0 percent in the second estimate. Personal consumption expenditures, at 2.9 percent growth in the second estimate, is expected to come in at 2.9 percent in the third estimate.
New jobless claims appear to have settled near the 230,000-level consistent with tight labor conditions. Consensus for the September 21 week is at 224,500.
US pending home sales in August, which in July fell an unexpected 5.5 percent despite lower rates in the month, are seen rising 3.1 percent.
Boston Federal Reserve Bank President Susan Collins will host virtually a fireside chat with (INVITED) Federal Reserve Board Governor Adriana Kugler focused on the intersection between bank supervision and financial inclusion as part of the Boston Fed's Financial Inclusion and Banking Supervision Workshop at 9:10 a.m. (1310 GMT).
Federal Reserve Board Governor Michelle Bowman will speak on the economic outlook and monetary policy before the Mid-Sized Bank Coalition of America Board of Directors Workshop at 9:15 a.m. (1315 GMT).
Federal Reserve Chairman Jerome Powell will give opening remarks before the 2024 Treasury Market Conference hosted by the Federal Reserve Bank of New York at 9:20 a.m. (1320 GMT).
Among other speakers at the event are New York Federal Reserve Bank President John Williams at 9:25 a.m. (1325 GMT) and Federal Reserve Vice Chair for Supervision Michael Barr at 10:30 a.m. (1430 GMT).
Federal Reserve Board Governor Lisa Cook will participate in an"Artificial Intelligence and Workforce Development" roundtable discussion with Community Stakeholders, hosted by the Federal Reserve Bank of Cleveland and Columbus State Community College at 10:30 a.m. (1430 GMT). She will also give a lecture on"Artificial Intelligence and the Labor Force" before the Ohio State University President and Provost's Diversity Lecture and Cultural Arts Series at 6 p.m. (2200 GMT).
Minneapolis Federal Reserve Bank President Neel Kashkari will host virtually a fireside chat with Federal Reserve Vice Chair for Supervision Michael Barr on the Fed's community development work, especially in Indian Country, plus opportunities and challenges associated with AI and machine learning to increase access to credit, as part of the Boston Fed's Financial Inclusion and Banking Supervision Workshop at 1 p.m. (1700 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.
