Highlights
Switzerland's SECO consumer sentiment index is expected to retain its recent flat profile, improving just a point to minus 33 in October from minus 34 in September.
Italian industrial production is expected to dip 0.2% from August, when it edged up 0.1%.
Nominal retail sales in Italy are seen rising 0.2% on the month in September, reversing less than half of August's 0.5% decline.
Canada's labor market remains soft and employment growth has been modest, which is expected to continue in the final quarter of 2024. Employment is forecast to rise 25,000 in October in line with the recent trend after surging 46,700 in September. The jobless rate, which unexpectedly eased to 6.5% the previous month when fewer people joined the labor market, is expected to tick up to 6.6%.
After lowering its policy interest rate by another 25 basis points to 4.5% last month, the bank is set to conduct another rate cut at its Dec. 11 meeting. Before considering another cut, and if so whether by 25 or 50 basis points, BoC officials will digest today's employment report, October CPI (Nov. 15), July-September GDP (Nov. 29) and November jobs (Dec. 6) as well as various risks.
The University of Michigan consumer sentiment index for November is forecast to continue edging up after rising for three straight months. The consensus looks for 70.8, up from 70.5 in October.
There are two Fed official speeches after Federal Reserve Chair Jerome Powell told a news conference after the central bank cut its policy rate by 25 basis points as expected that the U.S. election results will have no near-term effects on the Fed's policy decisions, adding that it is too early to assess what economic policy measures the incoming administration will formulate.
Federal Reserve Board Governor Michelle Bowman will participate in a conversation on banking topics before the University of Mississippi School of Business Banking and Finance Symposium at 11 a.m. EST (1600 GMT).
St. Louis Federal Reserve Bank President Alberto Musalem will give welcome remarks before the 22nd Annual St. Louis Fed Professors Conference at 2:30 p.m. (1930 GMT).
China's inflation remains muted just above zero, reflecting weak consumption and heavily indebted local governments that are still reeling under the weight of the country's property market crash. The consumer inflation annual rate is forecast at 0.5% in October, little changed from 0.4% in September. which was an eighth straight month of price gains but the lowest since 0.2% in June.
Chinese producer prices stay depressed, with the October PPI seen falling 2.6% for a 25th consecutive year-on-year decline after the pace of deflation accelerated sharply to 2.8% in September from 1.8% in August.
Italian industrial production is expected to dip 0.2% from August, when it edged up 0.1%.
Nominal retail sales in Italy are seen rising 0.2% on the month in September, reversing less than half of August's 0.5% decline.
Canada's labor market remains soft and employment growth has been modest, which is expected to continue in the final quarter of 2024. Employment is forecast to rise 25,000 in October in line with the recent trend after surging 46,700 in September. The jobless rate, which unexpectedly eased to 6.5% the previous month when fewer people joined the labor market, is expected to tick up to 6.6%.
After lowering its policy interest rate by another 25 basis points to 4.5% last month, the bank is set to conduct another rate cut at its Dec. 11 meeting. Before considering another cut, and if so whether by 25 or 50 basis points, BoC officials will digest today's employment report, October CPI (Nov. 15), July-September GDP (Nov. 29) and November jobs (Dec. 6) as well as various risks.
The University of Michigan consumer sentiment index for November is forecast to continue edging up after rising for three straight months. The consensus looks for 70.8, up from 70.5 in October.
There are two Fed official speeches after Federal Reserve Chair Jerome Powell told a news conference after the central bank cut its policy rate by 25 basis points as expected that the U.S. election results will have no near-term effects on the Fed's policy decisions, adding that it is too early to assess what economic policy measures the incoming administration will formulate.
Federal Reserve Board Governor Michelle Bowman will participate in a conversation on banking topics before the University of Mississippi School of Business Banking and Finance Symposium at 11 a.m. EST (1600 GMT).
St. Louis Federal Reserve Bank President Alberto Musalem will give welcome remarks before the 22nd Annual St. Louis Fed Professors Conference at 2:30 p.m. (1930 GMT).
China's inflation remains muted just above zero, reflecting weak consumption and heavily indebted local governments that are still reeling under the weight of the country's property market crash. The consumer inflation annual rate is forecast at 0.5% in October, little changed from 0.4% in September. which was an eighth straight month of price gains but the lowest since 0.2% in June.
Chinese producer prices stay depressed, with the October PPI seen falling 2.6% for a 25th consecutive year-on-year decline after the pace of deflation accelerated sharply to 2.8% in September from 1.8% in August.
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.
