In the UK, the ILO unemployment rate for the three months to December is expected to hold steady at the 3.7 percent of the prior two reports.

The French jobless rate in the October-December quarter is seen unchanged at 7.1 percent.

In the Eurozone, no revisions are expected to the preliminary GDP data that showed 0.1 percent growth on quarter and a 1.9 percent rise on year.

In the US, January's monthly core rate is expected to hold at December's as-expected and moderate 0.3 percent. Overall prices are expected to rise 0.5 percent to offset December's 0.1 percent decline. Annual rates, at 6.5 percent overall in December and 5.7 percent for the core, are expected to moderate to 6.2 and 5.5 percent.

The US small business optimism index has been below the historical average of 98 for 12 months in a row. January's consensus is 90.3 versus 89.8 in December.

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.