The US employment report is the top macro news event on the calendar Friday. Expectations call for a moderate rise of 168,000 in nonfarm payrolls on the month and no change in the jobless rate at 4.1 percent. Markets will be watching the annual benchmark revision to see how large were the expected downward revisions in payrolls for 2024.

In Asia, the Reserve Bank of India is widely expected to cut its benchmark repo rate by 25 basis points to 6.25 percent to help revive the flagging economy. A rate cut would follow the RBI's aggressive open market operations to add liquidity to the banking system last week.

In Europe, German industrial production report is due. Industrial production is expected to fall back with output down 1.0 percent on the month in December and down 2.1 percent from a year ago. Output rose 1.5 percent on the month in November and was down 2.8 percent on year.

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.