In the Eurozone, broad money growth (on a 3-month basis) is expected to slow 6 tenths to an annual rate in December of 4.8 percent.

US personal income is expected to edge 0.2 percent higher in December with consumption expenditures expected to decrease 0.1 percent. These would compare with respective November gains of 0.4 and 0.1 percent.

PCE inflation readings for December are expected at no change overall and up 0.3 percent for the core (versus respective gains of 0.1 and 0.2 percent) for annual rates of 5.0 and 4.4 percent (versus November's 5.5 and 4.7 percent).

The University of Michigan's consumer sentiment index is expected to end January at 64.6, nearly 5 points above December and unchanged from January's mid-month flash.

Pending home sales, which have been falling steeply month after month, are expected to fall 1.0 percent on the month in December after a 4.0 percent slump 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.