The main event Friday will be the US employment report due at 8:30 am ET. The Econoday consensus forecast looks for nonfarm payrolls up by 157,000 in December and no change in unemployment at 4.2 percent.

Canada's employment report is due at the same time. Forecasters expect employment up by 20,000 in December with the jobless rate rising to 6.9 percent from 6.8 percent in the prior month.

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.