In the US, the afternoon Federal Open Market Committee policy announcement and Fed chair press conference are the day's main events. Markets are fully priced for a 25 basis point rate cut but are on watch for signs of a more cautious Fed stance headed into 2025.

In Asia, Japan merchandise trade figures are due and the Bank of Japan monetary policy board begins its two-day meeting.

In Europe, UK CPI and PPI reports are scheduled along with Eurozone HICP and UK CBI industrial trends.

In US data, weekly mortgage applications, housing starts and permits, current account, Atlanta Fed business inflation expectations, and EIA petroleum stocks are on the docket.

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.