Italian retail sales are seen falling 0.2 percent on the month in December after posting an unexpectedly strong 0.8 percent rebound in November from a 0.3 percent drop in October.

In the US, the second estimate for December wholesale inventories is a marginal build of 0.1 percent, in line with the first estimate.

New York Federal Reserve Bank President John Williams will participate in a moderated discussion before the Wall Street Journal CFO Network Summit at 9:20 a.m. EST (1420 GMT).

Federal Reserve Board Governor Lisa Cook will participate in a conversation before the Joint Center for Political and Economic Studies: Voice at the Table Policy Forum at 9:30 a.m. EST (1430 GMT).

Atlanta Federal Reserve Bank President Raphael Bostic and Federal Reserve Board Vice Chair for Supervision Michael Barr will participate in the Economic Mobility student conversation hosted by Tougaloo College at 9:30 a.m. EST (1430 GMT).

Minneapolis Federal Reserve Bank President Neel Kashkari will answer questions in person in a town-hall style hybrid Boston Economic Club luncheon at 12:30 p.m. EST (1730 GMT).

Federal Reserve Board Governor Christopher Waller will speak on the economic outlook before the 2023 Arkansas State University Agribusiness Conference at 1:45 p.m. EST (1845 GMT).

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.