Monday: November’s All Industry Activity Index will be released in Japan. Advance January Consumer Confidence Index data will see light for the Eurozone, where analysts eye an improvement from -5.1 to -4.8. McDonald’s and Yahoo! will announce the fourth quarter’s earnings. Draghi is scheduled to speak in Torino.

Tuesday: A Preliminary estimate for the Nikkei Japan Manufacturing Purchasing Managers’ Index will see light in Japan. Preliminary January Markit PMIs will also see light throughout the Eurozone, as well as in the U.S. December’s Existing Homes Sales data will also see light in the U.S.

Wednesday: December Trade Balance data will see light in Japan. January IFO Survey data will see light in Germany – Analysts eye a further improvement at the Business Climate component, to 111.3 points, from a current 111.0. In the U.S., the weekly MBA Mortgage Applications data will see light. In Russia, December’s Unemployment Rate data will see light, currently at 5.4%. eBay will announce the 4th quarter’s earnings.

Thursday: Advance Q4 GDP data will see light in the U.K. Preliminary December Wholesale Inventories data will see light in the U.S. December New Homes Sales data are due, as well as December’s Leading Index. Intel, Alphabet, PayPal and Microsoft will announce the 4th quarter’s earnings.

Friday: In Japan, December’s Consumer Price Index data will see light, where analysts expect annual inflation to moderate to 0.2%. In France, January’s Consumer Confidence Index data will see light. In Spain, December Retail Sales data will be released. Advance Q4 GDP data is scheduled to see light in the U.S., with analysts seeing a 2.2% Quarter over Quarter expansion. Preliminary December Durable Goods Orders data will also see light in the U.S., as well as the University of Michigan’s Consumer Sentiment Index data.