The index of US leading economic indicators, which has been in steep decline and fell a full 1.0 percent to 113.5 (2016=100) in November, is expected to fall a further 0.7 percent in December amid slower manufacturing and housing sectors.

The European Commission's consumer confidence index is expected to improve for a fourth straight month, rising slightly to minus 20.0 in January after climbing to minus 22.2 in December from minus 23.9 in November. The level is still well below its long-term average.

Business conditions among Japan's manufacturing sector is expected to remain in negative territory in January amid slowing global demand after the purchasing managers' index edged down to a seasonally adjusted 48.9 in December from 49.0 in November (the first contraction in nearly two years). The service sector PMI is seen supported by the government's travel discount program after rising to 51.1 in December and slipping to 50.3 in November.

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.

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.