US Import prices fell 0.6 percent in May with June's expectations at a 0.3 percent fall. Export prices, which fell a very steep 1.9 percent in May, are expected to fall 0.3 percent. This report has been pointing consistently to cooling if not chilling in cross-border price pressures.

In the first indication for July, the University of Michigan's consumer sentiment index, which in June rose by more than 5 points to 64.4, is forecast to rise a bit further to 65.5 amid easing inflation.

In Canada, manufacturing sales, which have been swinging back and forth along a declining trend, are expected to rise 0.8 percent on the month in May after gaining 0.3 percent in April.

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.