US housing starts in March edged lower to a 1.420 million annualized rate; April is expected to slip further to 1.405 million. Permits, at 1.413 million in March and, though lower than expected, near the starts rate, is expected to rise to 1.430 million.

The year-over-year increase in Japanese export values is forecast to have slowed further to 3.0 percent in April from 4.3 percent in March and 6.5 percent in February amid softer global demand despite solid shipments of automobiles on improving supply chains. Import values are seen posting their first drop in 27 months as energy and commodities prices have eased, leading to a narrower trade deficit for a third straight month at ¥670.0 billion versus March's revised ¥755.1 billion.

In Australia, employment in April is expected to slow to a rise of 25,000 from a stronger-than-expected 53,000 increase in March. The unemployment rate is expected to hold steady at 3.5 percent.

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.