The Bank of Japan policy board meeting is the major macro news on the calendar in Asia Thursday. Markets expect no action but some analysts see a decent chance of a 25 basis point rate increase.

New Zealand GDP figures are due. The central bank of the Republic of Taiwan is also scheduled to announce its monetary policy decision.

In Europe, the Bank of England monetary policy decision is the major news. In data: Swiss merchandise trade figures, German Gfk consumer climate, German PPI, and French business climate.

In US data: final revision of Q3 GDP, weekly jobless claims, Philadelphia Fed manufacturing, plus existing home sales, index of leading indicators, EIA weekly natural gas stocks, Kansas City Fed manufacturing, and Treasury international capital flows (TICS).

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.