The European Central Bank outright stated in its February announcement that it"intends to raise interest rates by another 50 basis points" at its March meeting. Given no subsequent retraction, this then is the expectation, 50 basis points across its three rates, with the interest rate on the main refinancing operations seen rising to 3.50 percent. The ECB will release its monetary policy decision at 9:15 a.m. EDT (1415 CET/1315 GMT),

US housing starts in January fell much sharper than expected, to a 1.309 million annualized rate from December's 1.371 million. February is expected to come in flat at 1.315 million. Building permits, at 1.339 million in January, are also seen flat at 1.340 million.

Initial jobless claims for the March 11 week are expected to come in at 205,000 versus 211,000 in the prior week.

The Philadelphia Fed manufacturing index, in contraction the last six reports and very deeply so in February at minus 24.3, isn't expected to show great improvement in March, at a 15.8 consensus.

US import prices are expected to fall another 0.2 percent on the month in February to match January's decline. Export prices are expected to fall 0.3 percent versus the prior month's 0.8 percent jump.

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.