Highlights
As German consumers remain loath to spend, retail sales are forecast to drop 0.5% on the month in September for their first decline in three months following a 1.6% rise in August.
In France, consumer inflation is seen stable at 1.2% in October, little changed from 1.1% in September.
The Eurozone's harmonised index of consumer prices is forecast to show a 1.9% rise on year in October, up slightly from 1.7% in September. The narrow core HICP is seen up 2.6% vs. 2.7% in the prior month.
The region's unemployment is expected to be unchanged at 6.4% in September.
The Canadian economy is forecast to show no growth in August, slowing from 0.2% growth in July. StatCan will provide an estimate for July-September quarter GDP (data due on Nov. 29), which is forecast by the Bank of Canada to grow 2.1% at an annualized pace.
Last week, the bank lowered its policy interest rate by 50 basis points to 3.75% to help ease the pain of its earlier rapid credit tightening on households and businesses after conducting three 25-basis point cuts since June, when it delivered its first rate reduction in more than four years. It also left its door open for more interest rates cuts.
In the U.S., initial jobless claims have receded to the range the market was familiar with before work stoppages and hurricanes skewed claims higher in the first part of October. The consensus looks for 235,000 in the latest week versus 227,000 in the week of October 19.
Forecasters look for personal income and spending both to show a 0.4% rise on the month. PCE prices are expected up 0.2% on the month and by 2.1% from a year earlier. The closely watched core PCE price index is expected up 0.3% on the month and up 2.6% on the year.
The employment cost index for the third quarter is seen up 1.0% on quarter and 4.1% on the year.
The Chicago PMI continues to bump along the bottom, expected at 47.3 in October vs. 46.6 in September.
In China, the Caixin PMI manufacturing index is expected at 49.7 in October, up slightly from 49.3 in September, but that would still indicate contraction.
In France, consumer inflation is seen stable at 1.2% in October, little changed from 1.1% in September.
The Eurozone's harmonised index of consumer prices is forecast to show a 1.9% rise on year in October, up slightly from 1.7% in September. The narrow core HICP is seen up 2.6% vs. 2.7% in the prior month.
The region's unemployment is expected to be unchanged at 6.4% in September.
The Canadian economy is forecast to show no growth in August, slowing from 0.2% growth in July. StatCan will provide an estimate for July-September quarter GDP (data due on Nov. 29), which is forecast by the Bank of Canada to grow 2.1% at an annualized pace.
Last week, the bank lowered its policy interest rate by 50 basis points to 3.75% to help ease the pain of its earlier rapid credit tightening on households and businesses after conducting three 25-basis point cuts since June, when it delivered its first rate reduction in more than four years. It also left its door open for more interest rates cuts.
In the U.S., initial jobless claims have receded to the range the market was familiar with before work stoppages and hurricanes skewed claims higher in the first part of October. The consensus looks for 235,000 in the latest week versus 227,000 in the week of October 19.
Forecasters look for personal income and spending both to show a 0.4% rise on the month. PCE prices are expected up 0.2% on the month and by 2.1% from a year earlier. The closely watched core PCE price index is expected up 0.3% on the month and up 2.6% on the year.
The employment cost index for the third quarter is seen up 1.0% on quarter and 4.1% on the year.
The Chicago PMI continues to bump along the bottom, expected at 47.3 in October vs. 46.6 in September.
In China, the Caixin PMI manufacturing index is expected at 49.7 in October, up slightly from 49.3 in September, but that would still indicate contraction.
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.
