US PPI-FD figures are the major focus for Tuesday. Expectations center on a 0.3 percent rise on the month in December and a 0.2 percent increase for PPI-FD ex-food and energy. For the Labor Department's favored core measure, PPI-FD ex food, energy, and trade services, the consensus looks for an increase of 0.3 percent.

In Asia, India's wholesale price report is scheduled, and in Europe, Italian industrial production is due.

Other US economic events include the National Federation of Independent Business's business sentiment index, and in the afternoon, the Treasury budget statement.

In Federal Reserve appearances, Kansas City Fed President Jeffrey Schmid is scheduled to speak at 10 am ET on the economic and monetary policy outlook before the Central Exchange. New York Fed President John Williams will speak on housing affordability at 15:05 ET at the NY Fed.

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.