The German economy remains sluggish, exerting downward pressure on regional growth. No revisions are expected to the provisional fourth quarter GDP data, leaving a 0.3 percent quarterly contraction and a 0.2 percent workday adjusted yearly decline. GDP fell 0.1 percent on quarter and 0.4 percent on year in the third quarter.

Germany's Ifo business climate index is forecast at 85.5 in February, up only slightly from 85.2 in January, when it fell for the second straight month after slipping to 86.3 in December and rising to 87.2 in November. The index has missed the consensus the last three reports.

In Asia, Japanese markets are closed for the Emperor's Birthday public holiday after the Nikkei stock index hit a record high close of 39,098.68 on Thursday, surpassing the previous all-time high of 38,915.87 reached on Dec. 29, 1989, on the eve of the collapse of the asset bubble.

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.