In France, no revisions are expected to the CPI data for February, leaving a 2.9 percent annual inflation rate, down from January's final 3.1 percent.

Italy's tame inflation rate is also expected to be unrevised at a 0.8 percent year-over-year rise in February, unchanged from January's final post.

January retail sales in Italy are seen rising a monthly 0.2 percent after a 0.1 percent dip in December.

The New York Fed's Empire State manufacturing index is expected to fall back in March to minus 8.0 following February's massive 40-point rebound to minus 2.4.

US import prices in February are expected to increase 0.2 percent versus January's 0.8 percent rise. Export prices, which in January also rose 0.8 percent, are expected to edge 0.1 percent higher.

After a weak 0.1 percent decline in January, industrial production is expected to come in no better than unchanged in February. Manufacturing output is also expected to come in unchanged after falling a steep 0.5 percent. Capacity utilization is expected to fall 1 tenth to 78.4 percent following January's 2-tenth decline.

After ratcheting to multi-year highs in January and February, the University of Michigan's consumer sentiment index in the first indication for March is expected to rise a further but modest 4 tenths to 77.3. Steady year-ahead inflation expectations are the consensus, no change at 3.0 percent.

Canadian housing starts are expected to hold relatively steady at 225,000 in February versus January's lower-than-expected 223,589.

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.