The calendar is relatively light due to Christmas holidays. The NYSE will be closed on the 25th, and in Europe most stock markets will be closed on Monday and Tuesday.
In the US, investors will be waiting for pending home sales, advance estimates of goods trade balance and wholesale inventories and the CB Consumer Confidence. Important releases also include S&P/Case-Shiller home prices, Richmond Fed Manufacturing Index, Dallas Fed Manufacturing Index and Chicago PMI.
In Japan, the Bank of Japan will publish minutes from its last monetary policy meeting. The country's inflation, unemployment, household spending, housing data and industrial production will also be in the spotlight. Meanwhile, Australia will see the release of HIA new home sales and private sector credit.
In Europe, important releases include the UK BBA mortgage approvals and preliminary inflation data for Germany and Spain.
Other key data include South Korea inflation and business morale; Turkey foreign trade and manufacturing sentiment; Russia Markit Manufacturing PMI; Mexico trade balance; and Brazil unemployment rate.