In the United States, investor's attention is poised to return to a heavy economic calendar, alongside several speeches by Federal Reserve policymakers. Key data points to monitor include the PCE price indexes, personal income and outlays, the ISM Manufacturing PMI, and durable goods orders. Forecasts anticipate a 0.3% increase in PCE prices for January, slightly up from the 0.2% gain observed in December, with core prices expected to rise at a faster pace of 0.4%. Additionally, the report is expected to reveal a 0.3% uptick in consumer spending and a 0.5% advance in income. Furthermore, the ISM survey is likely to indicate a continued contraction in the manufacturing sector throughout February, while durable goods orders are forecasted to have declined by 4.5% in January after being unchanged in December. Investors will also closely track the second estimate of fourth-quarter GDP data, new and pending home sales, Case-Shiller home prices, Chicago PMI, Dallas Fed Manufacturing Index, and advance estimates of wholesale sales and the goods trade balance. Finally, the earnings season is coming to the end with Workday, Lowe's, American Tower, AMC, HP, Salesforce, TJX Companies, and Dell set to report. Elsewhere in America, investor focus will shift to Canada's fourth-quarter GDP and current account figures, Mexico's unemployment rate, business survey, and foreign trade, as well as Brazil's fourth-quarter GDP and jobless rate.

In Europe, important reports on inflation and employment are set to be released for the Eurozone, as well as for key countries such as Germany, France, Italy, and Spain. The annual inflation rate in the Euro Area is anticipated to drop to 2.5% in February, with the core rate expected to decrease to 2.9%, marking the lowest figure since February 2022. In Germany, the consumer climate indicator from GfK is forecasted to rebound from an 11-month low, while retail sales to recover following two consecutive months of decline. The manufacturing sector is expected to stagnate in Spain, while Italy is expected to see a slight contraction in the ongoing 11-month period of decline. Turkey and Switzerland are among the European nations continuing to update their Q4 GDP data. Additionally, upcoming data releases include the Euro Area's business survey, Italy's 2023 GDP and government budget data, and Switzerland's KOF leading indicator and retail sales numbers. In the United Kingdom, the focus will be on the Bank of England's monetary indicators and Nationwide housing prices, as well as the CBI gauge for distributive trades and final manufacturing PMI. 

In Asia, all eyes will be on February’s Chinese PMI, the first batch of data to offer insights into how the economy fared during the week-long Lunar New Year following a series of support measures from Beijing. In Japan, fresh inflation data is expected to show that consumer prices continued to decelerate, followed by an updated survey on consumer sentiment and fresh data on industrial production, retail sales, housing starts, and unemployment. In India, the spotlight will be on second estimates for GDP growth in the current fiscal year. Elsewhere, trade data from South Korea and the inflation rate in Indonesia are also awaited. In Australia, markets await January’s CPI, retail sales, and housing credit aggregates, while the RBNZ is expected to hold its key interest rate unchanged.