Highlights
The US markets are closed for the Juneteenth National Independence Day holiday on Monday.
The US housing market index has been on the rebound, jumping a surprising 5 points in May to 50, with June expected to see no further gain.
The Reserve Bank of Australia will release the minutes of its June 6 meeting at which the RBA board decided to raise its policy rate by another 25 points to 4.10 percent. Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend upon how the economy and inflation evolve, Governor Philip Lowe said in a statement for the last meeting.
In China, the People's Bank of China is expected to cut its loan prime rates by 10 basis points each, to 3.55 percent for the 1-year rate and to 4.20 percent for the 5-year. These rates were last lowered in August 2022 by 5 basis points and 15 basis points, respectively. Last week the bank lowered the 1-year medium-term lending facility rate by 10 basis points to 2.65 percent and its 7-day reverse repo rate by 10 basis points to 1.90 percent.
The US housing market index has been on the rebound, jumping a surprising 5 points in May to 50, with June expected to see no further gain.
The Reserve Bank of Australia will release the minutes of its June 6 meeting at which the RBA board decided to raise its policy rate by another 25 points to 4.10 percent. Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend upon how the economy and inflation evolve, Governor Philip Lowe said in a statement for the last meeting.
In China, the People's Bank of China is expected to cut its loan prime rates by 10 basis points each, to 3.55 percent for the 1-year rate and to 4.20 percent for the 5-year. These rates were last lowered in August 2022 by 5 basis points and 15 basis points, respectively. Last week the bank lowered the 1-year medium-term lending facility rate by 10 basis points to 2.65 percent and its 7-day reverse repo rate by 10 basis points to 1.90 percent.
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.
