Highlights
The INSEE French business sentiment index for the manufacturing sector is seen improving to 100 in October from 99 in September, matching its long-run average.
Among key European purchasing manager index data, The French composite output index is expected to rise from September's final 48.6 to an initial 48.9 for October, still more than a point short of the growth threshold.
Germany's composite PMI is expected to contract at 47.6 for October, similar to September's 47.5. The manufacturing index is expected to hold steady at 50.6, indicating a slight expansion, while the services index is expected to fall to 49.4 from 49.6.
In the Eurozone, the composite PMI is expected to contract at 49.4, a slight decline from September's 49.4. The manufacturing index is also expected to continue to decline at 45.1, no better than September's 45.0. The services industry, however, is expected to expand at 52.7, though at a slower pace than in September.
The UK PMI composite index is expected to rise to 52.7, signaling the expansion of the industry similar to that of September. The manufacturing index is expected to rise to 51.7, expanding again but at a faster pace than seen in September where the manufacturing index then was at 51.5. The services index is expected to hold steady at 52.4. The PMI composite flash for the UK is expected to expand all round.
Initial jobless claims in the U.S. are expected to rise to 247,000, up from the prior week's 241,000. This is due to the expected surge in filings following hurricanes and possibly to a lesser extent the Boeing strikes.
The U.S. manufacturing index is expected to contract at 47.6, while the service index is forecast to expand at 55.0, slightly less than September's 55.2.
New home sales for September are expected to increase to 718,000 after falling to 716,000 in August from July's 751,000.
Cleveland Federal Reserve Bank President Beth Hammack will give welcome remarks before the"Inflation: Drivers and Dynamics 2024" event hosted by the Center for Inflation Research at the Federal Reserve Bank of Cleveland and the European Central Bank at 8:45 a.m. EDT (1245 GMT).
Consumer inflation in Tokyo, the leading indicator of the national average, is expected to decelerate slightly in October as renewed utility subsidies cap electricity and natural gas prices. The core reading (only fresh food is excluded) is forecast to post a 1.8% increase after slowing to 2.0% in September from 2.4% in August. The year-on-year rise in the total CPI is expected to slow further to 1.9% from 2.2%. The annual rate for the core-core CPI (excluding fresh food and energy) is estimated at 1.6% vs. 1.6%.
Among key European purchasing manager index data, The French composite output index is expected to rise from September's final 48.6 to an initial 48.9 for October, still more than a point short of the growth threshold.
Germany's composite PMI is expected to contract at 47.6 for October, similar to September's 47.5. The manufacturing index is expected to hold steady at 50.6, indicating a slight expansion, while the services index is expected to fall to 49.4 from 49.6.
In the Eurozone, the composite PMI is expected to contract at 49.4, a slight decline from September's 49.4. The manufacturing index is also expected to continue to decline at 45.1, no better than September's 45.0. The services industry, however, is expected to expand at 52.7, though at a slower pace than in September.
The UK PMI composite index is expected to rise to 52.7, signaling the expansion of the industry similar to that of September. The manufacturing index is expected to rise to 51.7, expanding again but at a faster pace than seen in September where the manufacturing index then was at 51.5. The services index is expected to hold steady at 52.4. The PMI composite flash for the UK is expected to expand all round.
Initial jobless claims in the U.S. are expected to rise to 247,000, up from the prior week's 241,000. This is due to the expected surge in filings following hurricanes and possibly to a lesser extent the Boeing strikes.
The U.S. manufacturing index is expected to contract at 47.6, while the service index is forecast to expand at 55.0, slightly less than September's 55.2.
New home sales for September are expected to increase to 718,000 after falling to 716,000 in August from July's 751,000.
Cleveland Federal Reserve Bank President Beth Hammack will give welcome remarks before the"Inflation: Drivers and Dynamics 2024" event hosted by the Center for Inflation Research at the Federal Reserve Bank of Cleveland and the European Central Bank at 8:45 a.m. EDT (1245 GMT).
Consumer inflation in Tokyo, the leading indicator of the national average, is expected to decelerate slightly in October as renewed utility subsidies cap electricity and natural gas prices. The core reading (only fresh food is excluded) is forecast to post a 1.8% increase after slowing to 2.0% in September from 2.4% in August. The year-on-year rise in the total CPI is expected to slow further to 1.9% from 2.2%. The annual rate for the core-core CPI (excluding fresh food and energy) is estimated at 1.6% vs. 1.6%.
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.
