Singapore's Industrial production is forecast to rise 2.1 percent on the month in May after surging 7.1 percent in April. From a year earlier, output is seen up 2.1 percent after falling 1.6 percent.

Germany's Gfk consumer climate index is expected to improve slightly further in July to minus 20.0 after June's surprisingly sharp improvement to minus 20.9 from May's minus 24.2.

In the US, elevated mortgage rates and high home prices began to show their effects in April as new home sales dropped to a 634,000 annualized pace from a sharply downward revised 665,000 in March. May's consensus is a rise back to 650,000.

Japanese retail sales are forecast to have risen 2.0 percent on the year in May for a 27th straight increase, backed by solid department store sales and a smaller drop in automobiles, following an above-forecast 2.0 percent rise (revised down from an initial 2.4 percent gain) in April, which was led by strong demand for air conditioners amid high temperatures. On the month, retail sales are expected to rise 0.7 percent after a 0.8 percent rebound (revised down from a 1.2 percent rise).

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.