In the US investors will turn their attention to Federal Reserve Chairman Jerome Powell's testimony before Congress. Regarding the economic calendar, the most important releases are retail trade, industrial production, building permits and housing starts, business inventories, overall net capital flows, NY Empire State Manufacturing Index, Philadelphia Fed Manufacturing Index and NAHB Housing Market Index.
The UK will publish inflation and producer prices, wage data and unemployment, retail trade, and public finances. Elsewhere in Europe, key data include: Eurozone final estimate of June's inflation, alongside trade balance and construction output; Germany producer prices; Italy, Spain and Switzerland foreign trade figures; Ireland first quarter GDP growth and current account; and Turkey unemployment rate.
In China analysts are eyeing the publication of second quarter GDP growth, industrial production, retail sales, fixed asset investment and house price index. Meanwhile, Japan is set to publish inflation and trade balance; and Australia is releasing June's employment figures.
Other key highlights include: Canada inflation and retail trade; New Zealand second quarter inflation; Indonesia interest rate decision and trade balance; Malaysia inflation; India wholesale prices; and South Africa interest rate decision and inflation.