After two disappointing US inflation readings in CPI and PPI-FD on Wednesday and Thursday, attention will turn to US retail sales on Friday. The consensus looks for a slight 0.1 percent decrease in retail sales for January with a modest 0.3 percent rise excluding autos. That would compare with 0.4 percent increases in total sales and sales ex-autos in December. For January, forecasters say lower auto sales dampened the result along with nasty winter weather that hurt leisure spending.

Also on the schedule are US industrial production, expected up 0.3 percent, and capacity utilization, expected up a tick to 77.7 percent in January from 77.6 percent in December.

Markets will remain focused on the blizzard of activity flowing from the Trump administration. Trade tariffs top of the list and investors are watching for more details to back up the range of tariff threats. Markets appeared relieved on Thursday and risk assets rebounded on news that Trump had pushed back until April any implementation of his plan to impose"reciprocal" tariffs on trading partners he judges have imposed unfair limits on imports of US goods.

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.