Highlights
Inflation in Germany is expected to see no revision to the final reading for October. That would leave CPI up 0.4% on the month and up 2.0% from a year earlier. For the HICP (harmonised index of consumer price)s, the expected unrevised figures are up 0.4% on month and up 2.4% on year.
The UK labour market report for October is expected to show the ILO unemployment rate edging up to 4.1% from 4.0% a month earlier. Earnings are seen rising 3.9% on the year versus 3.8% in the prior month.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment is slightly better to little changed. The current conditions index is forecast at minus 86.0 in November, up from minus 86.9 in October. The expectations index is seen holding its recent gains at 13.2 in November after an unexpected leap to 13.1 in October from 3.6 in September.
India's consumer inflation is forecast to accelerate further to 5.85% on year in October after surging to a nine-month high of 5.49% in September from August's 3.65%, driven by food and fuel prices. CPI inflation would be still within the Reserve Bank of India's 2% to 6% target range.
Industrial production in India is forecast to have rebounded 2.5% on year in September after showing a nearly flat reading of a 0.1% drop in August, hit by weak mining and lower electricity generation.
Last month, the RBI decided to leave its policy interest rate steady at 6.50% for a 10th straight meeting but changed its policy stance to"neutral, opening the door for rate cuts, starting with a 25 basis point reduction at its Dec. 4-6 meeting.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in the Yahoo Finance Invest 2024"New Challenges, New Opportunities" conference at 2 p.m. EST (1900 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker will speak on"Fintech, AI and the Changing Financial Landscape" before the Carnegie Mellon University Lecture Series at 5 p.m. EST (2200 GMT).
Producer inflation in Japan is expected to climb further to 3.0% in October on higher costs for some energy and commodities markets amid heightened tensions between Israel and Iran. The corporate goods price index accelerated unexpectedly to 2.8% in September from 2.6% in August in light of a rice supply shortage across the country. Import prices for businesses face high uncertainties after September data showed they marked their first year-on-year drop in eight months in yen terms. On the month, the CGPI is forecast to post a slight 0.1% drop after being unchanged.
The Bank of Japan is widely expected to raise the target for the overnight interest rate by 25 basis points to 0.5% at its next meeting on Dec. 18-19 after leaving it steady at 0.25% in September, raising it to the current level from a range of 0% to 0.1% in July and conducting its first rate hike in 17 years in March when it also ended its seven-year-old yield curve control framework.
In Australia, the wage price index is expected to rise 0.9% on quarter in the July-September period, up slightly from a 0.8% gain in April-June. Wage pressures are seen moderating to a 3.7% year-on-year increase in the third quarter from a 4.1% rise seen in each of the previous two quarters. Wage growth peaked at a 4.2% annual rate in the fourth quarter of 2023.
The UK labour market report for October is expected to show the ILO unemployment rate edging up to 4.1% from 4.0% a month earlier. Earnings are seen rising 3.9% on the year versus 3.8% in the prior month.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment is slightly better to little changed. The current conditions index is forecast at minus 86.0 in November, up from minus 86.9 in October. The expectations index is seen holding its recent gains at 13.2 in November after an unexpected leap to 13.1 in October from 3.6 in September.
India's consumer inflation is forecast to accelerate further to 5.85% on year in October after surging to a nine-month high of 5.49% in September from August's 3.65%, driven by food and fuel prices. CPI inflation would be still within the Reserve Bank of India's 2% to 6% target range.
Industrial production in India is forecast to have rebounded 2.5% on year in September after showing a nearly flat reading of a 0.1% drop in August, hit by weak mining and lower electricity generation.
Last month, the RBI decided to leave its policy interest rate steady at 6.50% for a 10th straight meeting but changed its policy stance to"neutral, opening the door for rate cuts, starting with a 25 basis point reduction at its Dec. 4-6 meeting.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in the Yahoo Finance Invest 2024"New Challenges, New Opportunities" conference at 2 p.m. EST (1900 GMT).
Philadelphia Federal Reserve Bank President Patrick Harker will speak on"Fintech, AI and the Changing Financial Landscape" before the Carnegie Mellon University Lecture Series at 5 p.m. EST (2200 GMT).
Producer inflation in Japan is expected to climb further to 3.0% in October on higher costs for some energy and commodities markets amid heightened tensions between Israel and Iran. The corporate goods price index accelerated unexpectedly to 2.8% in September from 2.6% in August in light of a rice supply shortage across the country. Import prices for businesses face high uncertainties after September data showed they marked their first year-on-year drop in eight months in yen terms. On the month, the CGPI is forecast to post a slight 0.1% drop after being unchanged.
The Bank of Japan is widely expected to raise the target for the overnight interest rate by 25 basis points to 0.5% at its next meeting on Dec. 18-19 after leaving it steady at 0.25% in September, raising it to the current level from a range of 0% to 0.1% in July and conducting its first rate hike in 17 years in March when it also ended its seven-year-old yield curve control framework.
In Australia, the wage price index is expected to rise 0.9% on quarter in the July-September period, up slightly from a 0.8% gain in April-June. Wage pressures are seen moderating to a 3.7% year-on-year increase in the third quarter from a 4.1% rise seen in each of the previous two quarters. Wage growth peaked at a 4.2% annual rate in the fourth quarter of 2023.
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.
