Highlights
In the Eurozone's harmonised index of consumer prices data, no revision from the flash report is the call with October at 2.0% on year for the total and 2.7% for narrow core.
Canada's annual inflation reading is expected to correct higher in to 1.9% in October from 1.6% in September and 2.0% in August in what is widely considered to be a blip in the CPI data that has shown an easing trend. The September figure was the lowest since February 2021. On a monthly seasonally unadjusted basis, forecasters expect a 0.3% rebound after the 0.4% drop in September and 0.2% decline in August.
Delivering a 50 basis point cut in its policy interest rate to 3.75% in October, the Bank of Canada left its door open for more interest rates cuts so that the cumulative effects of past rate hikes do no chill economic activity more than necessary. The bank is widely expected to conduct a smaller 25 basis point rate cut at its next meeting on Dec. 11.
U.S. housing starts are forecast to be softer at a 1.3 million unit rate in October from 1.4 million in September. Permits are expected flat at 1.4 million versus 1.4 million in September.
Kansas City Federal Reserve Bank President Jeffrey Schmid will speak on the economic and monetary policy outlook before the Greater Omaha Chambe at 1:10 p.m. EST (1810 GMT).
Japanese export values are forecast to show a rebound in October, up 3.0% (range: -1.0% to +8.6%), after falling 1.7% in September for their first year-on-year drop in 10 months. An increase in semiconductor-producing equipment appears to be partly offset by drops in automobiles, mineral fuels and iron/steel. Import values are expected to mark their first decline in seven months, down 1.8% (range: -6.5% to +4.4%), on crude oil, semiconductors and smartphones, following a 2.1% rise the previous month.
The trade balance is forecast to post a deficit of ¥132.2 billion (range: a deficit of ¥360.4 billion to a surplus of ¥54.5 billion) for a fourth consecutive shortfall a revised ¥294.1 billion in deficit in September and compared with a ¥702.86 billion deficit in October 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) in January 2023.
Chinese monetary authorities cut the loan prime rate by 25 basis points in last month's fixing to help shore up the economy. Forecasters uniformly expect no change this month in 1-year or 5-year rates.
Canada's annual inflation reading is expected to correct higher in to 1.9% in October from 1.6% in September and 2.0% in August in what is widely considered to be a blip in the CPI data that has shown an easing trend. The September figure was the lowest since February 2021. On a monthly seasonally unadjusted basis, forecasters expect a 0.3% rebound after the 0.4% drop in September and 0.2% decline in August.
Delivering a 50 basis point cut in its policy interest rate to 3.75% in October, the Bank of Canada left its door open for more interest rates cuts so that the cumulative effects of past rate hikes do no chill economic activity more than necessary. The bank is widely expected to conduct a smaller 25 basis point rate cut at its next meeting on Dec. 11.
U.S. housing starts are forecast to be softer at a 1.3 million unit rate in October from 1.4 million in September. Permits are expected flat at 1.4 million versus 1.4 million in September.
Kansas City Federal Reserve Bank President Jeffrey Schmid will speak on the economic and monetary policy outlook before the Greater Omaha Chambe at 1:10 p.m. EST (1810 GMT).
Japanese export values are forecast to show a rebound in October, up 3.0% (range: -1.0% to +8.6%), after falling 1.7% in September for their first year-on-year drop in 10 months. An increase in semiconductor-producing equipment appears to be partly offset by drops in automobiles, mineral fuels and iron/steel. Import values are expected to mark their first decline in seven months, down 1.8% (range: -6.5% to +4.4%), on crude oil, semiconductors and smartphones, following a 2.1% rise the previous month.
The trade balance is forecast to post a deficit of ¥132.2 billion (range: a deficit of ¥360.4 billion to a surplus of ¥54.5 billion) for a fourth consecutive shortfall a revised ¥294.1 billion in deficit in September and compared with a ¥702.86 billion deficit in October 2023 and a record shortfall of ¥3,506.43 billion (¥3.51 trillion) in January 2023.
Chinese monetary authorities cut the loan prime rate by 25 basis points in last month's fixing to help shore up the economy. Forecasters uniformly expect no change this month in 1-year or 5-year rates.
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.
