In Switzerland, the annual inflation rate is forecast at 1.6 percent for August, unchanged from July, when the CPI came in as expected. The SVME purchasing managers index for the country is expected to claw its way back up to a still very weak 40.0 in August from 38.5in July.

No revision is expected to the flash data for the French manufacturing PMI, leaving the headline index at 46.4 for August, up from July's final 45.1. The Germany's final manufacturing PMI for August is also expected to unrevised at 39.1, up from July's final 38.8.

For the Eurozone, no revision is expected to the flash manufacturing PMI data, leaving the headline index at 43.7, up from July's final 42.7.

The final reading of Italy's second quarter GDP is seen unrevised, contracting 0.3 percent on quarter and growing 0.6 percent on year.

The latest US jobs data is likely to show labor conditions remain relatively tight. A moderating but still solid 170,000 rise is the call for nonfarm payroll growth in August versus 187,000 in July, which was a bit lower than expected. August's unemployment rate is expected to hold unchanged at 3.5 percent.

Average hourly earnings in August are expected to rise 0.3 percent on the month for a year-over-year rate of 4.4 percent; these would compare with 0.4 and 4.4 percent in the prior two reports.

The final US manufacturing PMI for August is expected to come in at 47.0, unchanged from the mid-month flash to indicate sizable contraction in activity.

The ISM manufacturing index has been in contraction the last nine months. August's consensus is 46.8, up slightly from 46.4 in July, companies sought to balance output levels and reduce payrolls through a combination of layoffs, hiring freezes and attrition amid soft demand and uncertainty over the timing of recovery.

Construction spending for July is expected to rise 0.5 percent to match June's 0.5 percent increase that benefited from a second strong month for residential spending.

Unit vehicle sales in August are expected to edge higher to a 15.6 million annual rate from 15.7 million in the prior two months.

In Canada, the monthly GDP for June is forecast to fall 0.2 percent after rising 0.3 percent in May. For the second quarter, the economy is expected post a 1.3 percent annual growth rate, slowing from a strong 3.1 percent pace in the first quarter.

At 6 a.m. EDT (1000 GMT), Atlanta Federal Reserve Bank President Raphael Bostic will participate in a panel discussion at the South African Reserve Bank's Biennial Research Conference with SARB governor Lesetja Kganyago, IMF first deputy managing director Gita Gopinath, and Huw Pill, chief economist and executive director for Monetary Analysis and Research at Bank of England.

At 9:45 a.m. EDT (1345 GMT), Cleveland Federal Reserve Bank President Loretta Mester will give closing remarks at the Drivers and Dynamics 2023 conference on inflation in Frankfurt hosted by the Center for Inflation Research at the Federal Reserve Bank of Cleveland and the European Central Bank.

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.