A light day of macro news Tuesday will begin with release of minutes from the Reserve Bank of Australia's policy board meeting of two weeks ago.

In the US, the following are due: the Richmond Fed's manufacturing index; a Treasury 2-year FRN auction and a Treasury 5-year note auction; US money supply.

The New York Stock Exchange and the cash bond market will close early ahead of the Christmas holiday close on Wednesday.

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.