Highlights
For this week on the policy front, the Reserve Bank of India's six-member Monetary Policy Committee is expected to decide in a majority vote at its Dec. 4-6 meeting to leave the policy interest rate at 6.50%, which would be an 11th straight no change decision. Inflation has soared above the bank's target of 2% to 6% after being exceptionally tame in July and August. At its last meeting on Oct. 7-9, the MPC voted 5 to 1 to leave the rate at 6.50%, with one member calling for a rate cut to 6.25%.
On Monday, Switzerland's retail sales are forecast to have risen 2.7% on year in October, with the pace of increase accelerating from 2.2% in September.
The Swiss SVME purchasing managers index is seen easing slightly to 49.5 in November after being unchanged at 49.9 in October.
The final readings of the European PMIs for November are expected to be unrevised or revised only slightly from the initial estimates of 43.2 in France (vs. 44.5 in October), also 43.2 in Germany (vs. 43.0), 45.2 in the Eurozone (vs. 46.0) and 48.6 in the UK (vs. 49.9).
In Italy, no revisions are expected to the provisional Q3 GDP data, which showed zero quarterly growth and a meager 0.4% rise on year.
The Eurozone unemployment rate is expected to hold steady at 6.3% in October after being flat in September and falling its record low of 6.3% in August from 6.4% seen the previous two months.
Among U.S. data, the purchasing managers index for the manufacturing sector is expected to be unrevised or revised only slightly from the initial reading of 48.8 in November, which was up marginally from the final 48.5 in October.
The manufacturing sector continues to struggle headed into yearend and purchasing managers are fretting about weak demand and uncertainty over the incoming administration's economic policies. After declining to 46.5 in October from 47.2 in September, forecasters expect the index to improve slightly to 47.6 in November.
Construction spending is forecast to post a modest 0.2% increase in October following a 0.1% gain in September.
Federal Reserve Board Governor Christopher Waller will speak on the economic outlook at the American Institute for Economic Research Monetary Conference"Building a Better Fed Framework" at 3:15 p.m. EST (2015 GMT).
New York Federal Reserve Bank President John Williams will participate in a conversation organized by the Queens Chamber of Commerce at 4: 30 p.m. (2130 GMT).
On Monday, Switzerland's retail sales are forecast to have risen 2.7% on year in October, with the pace of increase accelerating from 2.2% in September.
The Swiss SVME purchasing managers index is seen easing slightly to 49.5 in November after being unchanged at 49.9 in October.
The final readings of the European PMIs for November are expected to be unrevised or revised only slightly from the initial estimates of 43.2 in France (vs. 44.5 in October), also 43.2 in Germany (vs. 43.0), 45.2 in the Eurozone (vs. 46.0) and 48.6 in the UK (vs. 49.9).
In Italy, no revisions are expected to the provisional Q3 GDP data, which showed zero quarterly growth and a meager 0.4% rise on year.
The Eurozone unemployment rate is expected to hold steady at 6.3% in October after being flat in September and falling its record low of 6.3% in August from 6.4% seen the previous two months.
Among U.S. data, the purchasing managers index for the manufacturing sector is expected to be unrevised or revised only slightly from the initial reading of 48.8 in November, which was up marginally from the final 48.5 in October.
The manufacturing sector continues to struggle headed into yearend and purchasing managers are fretting about weak demand and uncertainty over the incoming administration's economic policies. After declining to 46.5 in October from 47.2 in September, forecasters expect the index to improve slightly to 47.6 in November.
Construction spending is forecast to post a modest 0.2% increase in October following a 0.1% gain in September.
Federal Reserve Board Governor Christopher Waller will speak on the economic outlook at the American Institute for Economic Research Monetary Conference"Building a Better Fed Framework" at 3:15 p.m. EST (2015 GMT).
New York Federal Reserve Bank President John Williams will participate in a conversation organized by the Queens Chamber of Commerce at 4: 30 p.m. (2130 GMT).
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.
