US CPI will be in focus on Tuesday at 8:30 am ET. Expectations call for both total and core CPI up 0.3 percent on the month for April with total up 2.4 percent on year and core up 2.8 percent on year.

After favorable news on US-China trade on Monday, markets will be watching for more signs that President Trump is continuing to deescalate his trade war. News that the US and China had rolled back their respective massive tariffs for 90 days while they talk about a permanent agreement set off a powerful rally in stocks and other risk assets Monday, as if the trade war were ended. Lots of interest in whether the rally continues as the week goes on.

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.