As has been the case all week, investors are obliged to focus Friday on anything President Trump and his team have to say about tariffs, and whether the president moderates his tone toward Canada, Europe, and other close allies in a way that might suggest any cooling in the global trade war.

The trade dispute heated up on Thursday and markets reacted badly as the president threatened 200 percent tariffs on European wine and liquor unless Europe dropped a 50 percent tariff on US whiskey it imposed in response to US tariffs. Investors also worried about Trump's latest harsh remarks on Thursday about Canada, his renewed threat to seize Greenland, and news that Trump had directed the military to draw up options for retaking the Panama Canal. The atmosphere of uncertainty and nonstop policy news flow have put everything else on the back burner.

Even the threat of a US government shutdown in the next two days has yet to seize the market's attention as investors have grown blase about recurrent brinksmanship on Capitol Hill. Democrats remain divided over whether to go along with a Republican spending bill that contains elements they detest or to face the political fallout from being blamed for a disruptive shutdown, the last thing needed in the current uncertain, chaotic environment.

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.