UK retail sales are forecast to slip back 0.4 percent on the month in June after rebounding a sharp 2.9 percent in May, slumping 1.8 percent in April and recording close to growth in the prior two months. From a year earlier, sales are seen up 0.3 percent after rising 1.3 percent the previous month.

German producer prices are expected to post a 0.2 percent rise on the month in June after showing no change in May.

Canadian retail sales in May are expected to fall 0.6 percent on the month to nearly reverse April's as-expected 0.7 percent gain.

New York Federal Reserve Bank President John Williams will participate in a panel titled"A New Era for Monetary Policy" at the BCRP-RBWC-IDB 15th Annual Conference:"The Rewiring of the Global Economy" organized by the Central Reserve Bank of Peru (BCRP), Reinventing Bretton Woods Committee (RBWC), and Inter-American Development Bank (IDB) at 10:40 a.m. EDT (1440 GMT).

Atlanta Federal Reserve Bank President Raphael Bostic will give closing remarks before the Federal Reserve Bank of Dallas/Federal Reserve Bank of Atlanta"Exploring Conventional Bank Funding Regimes in an Unconventional World" conference at 1 p.m. EDT (1700 GMT).

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.