1. Retail in the USA
U.S. retail sales data will be closely watched for signs whether consumer spending - a key driver of economic growth - remains resilient in the face of elevated interest rates.
The Federal Reserve raised interest rates at a record pace last year in an effort to rein in inflation. However, with price growth slowing, the potential pace of interest rate cuts this year and whether the economy will avoid recession are key questions on the minds of markets.
2. Bank results
Bank earnings releases will continue from Goldman Sachs (NYSE:GS) and Charles Schwab (NYSE:SCHW), which are expected to be released on Tuesday and Wednesday, respectively, following mixed results from large lenders on Friday.
Jamie Dimon, CEO of JPMorgan Chase, the largest U.S. bank and indicator of the economy, said consumers were still spending and markets expected a soft landing, but warned that government spending could still push up prices.
3. Davos
The 54th annual World Economic Forum titled "Rebuilding Trust" will begin on Monday in the Swiss ski resort of Davos.
Politicians, central bankers and business leaders will discuss the difficult global economic outlook, including the war in Ukraine and Gaza, trade concerns and rising debt levels.
4. China's GDP
China is scheduled to publish full-year GDP data, which will show how well it has achieved its official target of 5% growth in 2023.
In addition, Germany also intends to publish full-year GDP data, which may show that the euro zone's largest economy experienced a shallow recession in 2023.
Britain will release closely watched inflation data, a day after the latest jobs data. Core inflation is expected to remain well above the Bank of England's 2% target.
5. Oil prices
Oil prices look set to remain volatile in the coming week after rising 1% on Friday as a growing number of tankers were diverted away from the Red Sea. This comes after US and UK attacks on bases of Iran-backed Houthi rebels in Yemen following a number of attacks by the latter on merchant ships.
During the week, the price of Brent crude oil fell by 0.5% and WTI by 1.1%. At the beginning of the week, sharp price cuts by the largest exporter, Saudi Arabia, and an unexpected increase in the supply of WTI and stocks raised concerns about supply.
