In the Eurozone, annual broad money growth is expected to slow to 1.0 percent in June, reducing the headline 3-month moving average rate to 1.4 percent versus 1.9 percent in May.

US new home sales in June are expected to ease back to 727,000 in June after a much higher-than-expected 763,000 annualized rate in May.

At 2 p.m. EDT (1800 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. After holding steady in June, the Fed is expected to raise its policy rate by 25 basis points to a range of 5.25 to 5.50 percent (5.375 percent mid-point). Inflation has been coming down but remains elevated while the jobs market continues to be strong.

Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EDT (1830 GMT).

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.