In the US, investors will be waiting for the final reading of third quarter GDP growth, personal spending and income, PCE price index, durable goods orders, new and existing home sales, building permits and housing starts. Other important data include: current account; NAHB Housing Market Index; Chicago Fed National Activity Index; Philadelphia Fed Manufacturing Index; Kansas Fed Manufacturing Index; Fannie Mae and Freddie Mac house price index; and final figures for Michigan consumer sentiment.
In the United Kingdom, markets will focus on the publication of third quarter GDP data, alongside current account, CBI factory orders and public sector net borrowing.
Elsewhere in Europe, important releases include consumer confidence for the Eurozone, Germany, Italy and the Netherlands; and business morale for Germany, France and Italy. The Eurozone final reading of November's inflation will also be in the spotlight.
In Japan, the Bank of Japan will be deciding on monetary policy, but no changes are expected. The country's trade balance will also be watched. In Australia, the RBA will publish minutes from its last monetary policy meeting.
Other key data include Taiwan export orders; China house price index; New Zealand third quarter GDP growth and current account; Canada inflation, retail trade and monthly GDP; Sweden interest rate decision; Russia unemployment, wage growth and retail sales; and Argentina GDP growth rate.