Before the European and North American markets open, Singapore's industrial production is forecast to show an eighth consecutive year-over-year decline in May, down 7.1 percent, following a 6.9 percent drop in April.

In Germany, Ifo's business climate index fell 1.7 points in May to 91.7, ending an extended run of improvement. Forecasters see a further 1.0-point decline in June to 90.7. The current conditions index is forecast to fall to 93.5 in June from 94.8 the previous month while the business expectations index is seen at 88.4, little changed from May's 88.6.

The US data calendar is thin Monday. The Dallas Fed manufacturing activity index is expected to post a 14th straight negative score, at a consensus minus 26.5 in June versus minus 29.1 in May, which, for a third month in a row, was much deeper than expected.

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.