US durable goods and consumer confidence reports are in focus Tuesday as investors weigh the impact of President Trump's policy mix and rising interest rates on the economy. For durable goods, due at 8:30am ET, expectations excluding volatile transportation orders call for a decline of 0.2 percent and a decrease of 0.2 percent for core capital goods orders. The headline figure, which is driven by seesawing aircraft orders, is seen down 8.1 percent.

For consumer confidence, the Econoday consensus sees an uptick to 87.0 for May after a succession of tariff-driven drops to 86.0 in April. It's not hard to imagine another downside surprise given the policy backdrop in the US.

Markets are also watching ongoing trade talks between the US and European Union after President Trump's latest series of abrupt threats and reversals. Risk appetite appears better Tuesday after Trump delayed his threat to raise EU tariffs to 50 percent on June 1 until July 9.

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.