The US data calendar is thin on Friday.

UK retail sales in July are expected to fall 0.5 percent on the month following a 0.7 percent rise in June, and seen down 2.0 percent on the year after a 1.0 percent fall.

In the Eurozone, no revisions are expected to the flash harmonised index of consumer prices (HICP) data. leaving a 5.3 percent headline inflation rate, down from June's final 5.5 percent, and a 5.5 percent narrow core, unchanged from June.

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.