Highlights
Singapore's industrial production is expected to rise 2.0% on the year, slowing from a 9.8% gain in September and a 22.0% surge in August. On the month, manufacturing output is forecast to post a modest 0.6% rise on the month in October after being flat in September and growing in the previous two months (6.9% in August and 10.6% in July).
In the Confederation of British Industry's distributive trades data, the headline sales balance is expected to fall from minus 6% in October to minus 14% in November.
S&P Case Shiller has been reporting a steady decline in the rate of annual home price inflation, with the 20-city composite index at 5.2 in August compared with 5.9 in July. Forecasters look for more slowing to 4.8 in September. Month on month, the call is a moderate 0.3% increase after a 0.4% rise in the prior month.
The Federal Housing Finance Agency's house price index is seen rising 0.2% rise on the month in September after a 0.3% increase the month before.
The Conference Board's consumer confidence index is forecast to surge to 112.3 in November after its surprising rebound to 108.7 in October from 99.2 in September. The focus is on the labor market, which improved markedly in October, now that inflation worries have diminished.
U.S. new home sales are seen falling back to a 725,000 annual rate in October after rising to 738,000 in September from 709,000 in August. Buyers were lured by lower mortgage rates in September but rates ticked up again in October and continued higher in November.
The Richmond Fed's index measuring confidence among manufacturers is expected to post a further improvement to minus 8.0 in November after rising to minus 14.0 in October.
In Australia's monthly CPI data, consumer inflation is seen accelerating to 2.3% in October from 2.1% in September.
The Reserve Bank of New Zealand is expected to follow up with another 50 basis point rate cut. In October, the RBNZ cut its policy interest rate by 50 basis points to 4.75%. The RBNZ surprised markets in August when it lowered the rate by 25 basis points to 5.50%, its first reduction since March 2020 following eight consecutive meetings of no change.
In the Confederation of British Industry's distributive trades data, the headline sales balance is expected to fall from minus 6% in October to minus 14% in November.
S&P Case Shiller has been reporting a steady decline in the rate of annual home price inflation, with the 20-city composite index at 5.2 in August compared with 5.9 in July. Forecasters look for more slowing to 4.8 in September. Month on month, the call is a moderate 0.3% increase after a 0.4% rise in the prior month.
The Federal Housing Finance Agency's house price index is seen rising 0.2% rise on the month in September after a 0.3% increase the month before.
The Conference Board's consumer confidence index is forecast to surge to 112.3 in November after its surprising rebound to 108.7 in October from 99.2 in September. The focus is on the labor market, which improved markedly in October, now that inflation worries have diminished.
U.S. new home sales are seen falling back to a 725,000 annual rate in October after rising to 738,000 in September from 709,000 in August. Buyers were lured by lower mortgage rates in September but rates ticked up again in October and continued higher in November.
The Richmond Fed's index measuring confidence among manufacturers is expected to post a further improvement to minus 8.0 in November after rising to minus 14.0 in October.
In Australia's monthly CPI data, consumer inflation is seen accelerating to 2.3% in October from 2.1% in September.
The Reserve Bank of New Zealand is expected to follow up with another 50 basis point rate cut. In October, the RBNZ cut its policy interest rate by 50 basis points to 4.75%. The RBNZ surprised markets in August when it lowered the rate by 25 basis points to 5.50%, its first reduction since March 2020 following eight consecutive meetings of no change.
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.
