It will be a busy week in the US as the Federal Reserve will deliver its latest policy decision and to publish quarterly economic projections on Wendesday. While the central bank is likely to keep rates on hold, investors will be looking for details on plans to unwind the massive balance sheet it built up in the wake of the financial crisis. Other key data include: Flash PMIs; housing starts and building permits; existing home sales; current account; export and import prices; house prices by Fannie Mae and Freddie Mac; Philadelphia Fed Manufacturing Index; NAHB Housing Market Index; and overall net capital flows.
In the United Kingdom, Prime Minister Theresa May will give a speech on Brexit in Florence which may be crutial in the country’s negotiations over its divorce from the EU. Also, in the spotlight will be: retail sales, CBI industrial trends orders and public sector net borrowing data.
Elsewhere in Europe, important releases include flash PMI data for the Eurozone, Germany and France. Markets will also focus on the Eurozone consumer confidence and inflation rate; Germany ZEW economic sentiment; French GDP growth; and Norway interest rate decision.
In Japan, the Bank of Japan will meet, but no changes in the monetary policy are expected. The country's trade balance will also be watched.
In Australia, the RBA will publish its meeting minutes, which are expected to provide further details on the bank's outlook for policy.
Other important releases include China house prices; South Africa, Indonesia, Philippines and Taiwan interest rate decisions; and Malaysia and South Africa and Canada inflation rate.