US personal consumption expenditures prices, part of the personal income and outlays report, will be the day's featured economic event. PCE prices remain in focus as the Federal Reserve's favored inflation barometer now that inflation concerns have prompted the Fed to scale back anticipated rate cuts. Expectations for PCE prices center on monthly increases of 0.2 percent for total and for core.

Earlier, in Asia, macro news starts with Japanese CPI and China's loan prime rate fixing.

In Europe, the market will get UK retail sales, German, Italian and French PPI, UK public sector finances, Italian business and consumer confidence, UK distributive trades, and Eurozone consumer confidence flash.

In the US, the big one is personal income and outlays, including PCE prices, plus Canadian retail sales and US consumer sentiment.

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.