Monday: November Machine Orders data will see light in Japan, as will December’s Producer Price Index and the Tertiary Industry Index. In Italy, the final estimate of December’s CPI will see light.

Tuesday: December Consumer Price Index data will be released in the U.K. – analysts see further gains of inflation amid the depreciation of the Pound, expecting annual inflation to reach 1.4%. December’s Producer Price Index data will also see light in the U.K. In Germany, January’s ZEW Survey will see light, with some optimism recorded amid analysts. In the U.S., January’s Empire Manufacturing Index will see light. Morgan Stanley (MS) will announce the 4th quarter’s earnings.

Wednesday: The final estimate of December’s Consumer Price Index will be released in Germany. In the U.K., December’s labor market data will see light – The analyst consensus sees Unemployment stable at 4.8%.  Inflation for the Eurozone will also see light, currently at 1.1%. In the U.S., the weekly MBA Mortgage Applications will see light. December’s CPI will also be released, with analysts expecting an increase of annual inflation to no less than 2.1%. Any surprise to higher than that would mean the highest inflation figure since 2012. December Industrial Production Index data will also see light in the U.S. Goldman and Citi will announce the 4th quarter’s earnings. The Bank of Canada, additionally, is scheduled to release a rate decision.

Thursday: The ECB will announce interest rates and its asset purchase target. In the U.S., December’s Housing Starts data will be released. The weekly Initial Jobless Claims will also be released, as well as January’s Philadelphia Fed Business Outlook. IBM (IBM) will announce the 4th quarter’s earnings.

Friday: 4th quarter GDP data will be released in China. December Industrial Production Index data will also see light. December’s Consumer Price Index data will see light in Canada. The inauguration of Donald Trump as 45th president will also take place.