Monday: IFO Surveys will be released in Germany – Analysts see a healthy gain in Business Climate from a level of 105.5, to 106.5. 

Tuesday: Advance fourth quarter National Accounts data will be released in the U.K., where analysts see annual GDP rise to 2.8% from 2.6%, previously.  In the U.S., December's Durable Goods Orders will be released, in hope of recovering from a -0.9% contraction in November. The U.S. will also host the release of December's New Home Sales data, as well as January's Consumer Confidence Index. 

Wednesday: January Consumer Confidence Index will be released in France, following two consecutive increases from October's prints. The day will also see the release of the weekly MBA Mortgage Applications, in the U.S. Weekly Consumer Price Index data will be released in Russia. Additionally, the Federal Open Market Committee is set to publish a Rate Decision, hopefully signaling on how it sees its future policy given the ECB's move. 

Thursday: Busy day for Europe: In the U.K., Nationwide House Prices data will be released, though the annual gain of this figure has been moderating in recent months. In Spain, December Retail Sales data will be released. Drawing much attention, analysts expect to see Unemployment in Germany recede by 10K, but rates remain unchanged at 6.5%. In the Eurozone, December M3 Money Supply data will be released, but, obviously, it's nothing compared to what the ECB has in store for us. January's Consumer Confidence Index will be released in Italy, where analysts see a 0.3 point improvement, to a level of 100. The Italian Business Confidence Index enjoys similar positive expectations. The Eurozone's Final January Consumer Confidence Index will be published. But analysts expect it to remain at -8.5 points. Concluding European reports for the day, Preliminary January Consumer Price Index data will be released in Germany. In the U.S., the weekly Initial Jobless Claims data will see light after edging up somewhat higher last week, to 307K. 

Friday: December Labor market and CPI data will see light in Japan. This will be followed by a Preliminary December Industrial Production print. In Spain, preliminary January Consumer Price Index data will see light – analysts see deflation deepen to 1.2% here, from a current 1%. December Unemployment rate are due for the Eurozone, as well as January's CPI estimate. The day will also see the release of January's Chicago Purchasing Managers' Index and the final print for January's University of Michigan Consumer Sentiment Index.