The German unemployment rate for December is expected to hold steady at 5.9 percent from November, consistent with a shrinking economy.

US manufacturing activity measured by the Institute for Supply Management is expected to show a 14th straight month of contraction in December, with the key index seen at 47.2, down slightly from 47.6 in November, when it was unchanged amid sluggish demand and lower production.

In the Labor Department's JOLTS report, October's 8.733 million for job openings was significantly below Econoday's consensus for 9.4 million and was a huge relief to Federal Reserve officials fretting about excess demand in labor markets. The consensus for November is 8.750 million, pretty much flat from October.

Richmond Federal Reserve Bank President Thomas Barkin will speak before the Raleigh Chamber Launch 2024 at 8 a.m. EST (1300 GMT).

In China, S&P's services PMI in December is expected to improve to 51.6 versus November's 51.5 and October's 50.4.

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.