No revisions are expected to the provisional French CPI data, which showed the annual inflation rate eased to 2.1 percent from 2.3 percent in May and that the rate measured in the harmonised index of consumer prices (HICP) also moderated to 2.5 percent from 2.6 percent.

Among Indian data due at 8 a.m. EDT (1200 GMT), the annual CPI rate is forecast at 4.75 percent in June, the same as in May. The year-over-year rise in industrial production is forecast at 5.0 percent in June, also unchanged from May's 5.0 percent gain.

US producer prices in June are expected to rise 0.1 percent on the month versus an unexpected 0.2 percent decline in May. The annual rate in June is seen at 2.3 percent versus May's 2.2 percent. June's ex-food ex-energy rate is seen up 0.2 percent on the month versus no change in the prior month.

In the first indication for July, the University of Michigan consumer sentiment index is forecast to hold unchanged at June's 68.2. Year-ahead inflation expectations are also expected to hold unchanged, at 3.0 percent.

China's trade surplus is expected to continue widening to $84.7 billion in June after rising to $82.62 billion in May from $72.35 billion in April on faster growth in exports and a slower rise in imports. Exports in June are seen rising 8.0 percent on the year, up from a 7.6 percent gain in May, while imports are expected to increase 2.9 percent, also accelerating from a 1.8 percent rise in the prior month.

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.