Highlights
The German GfK consumer climate index for December is expected to show no improvement from the previous month, staying at minus 18.3, after picking up from 21.0 in October. In the last report, consumers were more willingness to spend, rather than save, and they turned more optimistic about their future incomes. Note the release time has been postponed until 4:30 p.m. EST (2130 GMT).
U.S. durable goods orders are forecast to have rebounded 0.5% on the month in October following a 0.8% dip in September. Excluding those for transportation equipment, orders are seen up 0.2% after a 0.4% gain.
In the second reading of the U.S. GDP data for the third quarter, no revision is expected to an annualized 2.8% expansion. Personal consumption expenditures, a key inflation indicator closely watched by the Federal Reserve, is also forecast to be unrevised at 3.7%.
The U.S. goods trade balance is expected to post a deficit of $104.5 billion in October, shrinking from a wider-than-expected $109.0 billion in September.
New jobless claims are forecast at 217,000 in the week that ended on Nov. 23, up slightly from a surprisingly low 213,000 in the prior week and inching closer to their four-week moving average of 218,000. Economists have been off on this one indicator as they have underestimated the resilience of the employment market.
No change on the month is the call for wholesale inventories in the advance report.
Forecasters look for the ever-volatile Chicago purchasing managers' index to rebound to 44.2 in November after its October plunge to 41.6.
In the October report, personal income is forecast to rise 0.3% on the month and outlays to gain 0.4%, in line with their recent trend.
The PCE price index is seen up 0.2% on the month and up 2.3% from a year ago. Core PCE is seen up 0.3% on the month and up 2.8% on the year. The persistence of monthly core PCE increases like this is giving investors concern that the hoped-for Fed rate cut won't materialize in December.
Pending home sales are forecast to show a 1.8% drop on the month in October after a big 7.4% rise in September. Mortgage rates were down in September and back up in October.
In Australia, business investment in equipment is seen up 1.0% on the quarter in the July-September period after dropping 2.2% in the previous quarter.
The Bank of Korea is seen holding rates after easing last month. Amid cooling inflation, the BOK lowered its policy interest rate by 25 basis points to 3.25% at its latest meeting on Oct. 11 after having left it at a restrictive level of 3.50% for 13th consecutive meetings.
Post-meeting data shows the annual inflation rate has eased further to 1.3% in October from 1.6% in September, well below the bank's 2% target, from 2.0% in August and 2.6% in July. The bank last raised the Base Rate by 25 basis points to 3.50 in January 2023.
U.S. durable goods orders are forecast to have rebounded 0.5% on the month in October following a 0.8% dip in September. Excluding those for transportation equipment, orders are seen up 0.2% after a 0.4% gain.
In the second reading of the U.S. GDP data for the third quarter, no revision is expected to an annualized 2.8% expansion. Personal consumption expenditures, a key inflation indicator closely watched by the Federal Reserve, is also forecast to be unrevised at 3.7%.
The U.S. goods trade balance is expected to post a deficit of $104.5 billion in October, shrinking from a wider-than-expected $109.0 billion in September.
New jobless claims are forecast at 217,000 in the week that ended on Nov. 23, up slightly from a surprisingly low 213,000 in the prior week and inching closer to their four-week moving average of 218,000. Economists have been off on this one indicator as they have underestimated the resilience of the employment market.
No change on the month is the call for wholesale inventories in the advance report.
Forecasters look for the ever-volatile Chicago purchasing managers' index to rebound to 44.2 in November after its October plunge to 41.6.
In the October report, personal income is forecast to rise 0.3% on the month and outlays to gain 0.4%, in line with their recent trend.
The PCE price index is seen up 0.2% on the month and up 2.3% from a year ago. Core PCE is seen up 0.3% on the month and up 2.8% on the year. The persistence of monthly core PCE increases like this is giving investors concern that the hoped-for Fed rate cut won't materialize in December.
Pending home sales are forecast to show a 1.8% drop on the month in October after a big 7.4% rise in September. Mortgage rates were down in September and back up in October.
In Australia, business investment in equipment is seen up 1.0% on the quarter in the July-September period after dropping 2.2% in the previous quarter.
The Bank of Korea is seen holding rates after easing last month. Amid cooling inflation, the BOK lowered its policy interest rate by 25 basis points to 3.25% at its latest meeting on Oct. 11 after having left it at a restrictive level of 3.50% for 13th consecutive meetings.
Post-meeting data shows the annual inflation rate has eased further to 1.3% in October from 1.6% in September, well below the bank's 2% target, from 2.0% in August and 2.6% in July. The bank last raised the Base Rate by 25 basis points to 3.50 in January 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.
