Monday: U.S. Markets will be closed for Martin Luther King Day. The final estimate for November’s Industrial Production data will be released in Japan, currently at a 1.6% annual expansion. Q4’s Balance of Payments data will see light in Russia.

Tuesday: December’s Industrial Production data will see light in China, with analysts expecting some moderation, to 6% annual growth. The fourth quarter’s GDP data will also see light in China. In Germany, the final estimate for December’s Consumer Price Index will see light, currently at 0.3% annual inflation. December’s CPI will also see light in the U.K., currently with no annual inflation. The U.K.’s Producer Price Index will also see light, as will the Eurozone’s aggregate CPI. In Germany, January’s ZEW Survey will see light. Analysts expect significant deterioration in both the Current Situation Component, as well as Expectations. IBM (IBM) will release Q4 earnings, as will Morgan Stanley (MS).

Wednesday: In the U.K. December labor market data will see light, though analysts expect Unemployment to remain stable at 5.2%. In the U.S., the weekly MBA Mortgage Applications will see light. December’s Housing Starts data will also see light, as will December’s Consumer Price Index, which analysts expect will rise to an impressive 0.8% annual inflation. The Bank of Canada is scheduled to release a rate decision. Goldman will publish Q4’s earnings.

Thursday: November’s All Industry Activity Index will see light in Japan. January’s Manufacturing Confidence index will also see light. The European Central Bank is also scheduled to make a rate announcement, followed by Draghi holding a press conference. In the U.S., the weekly Initial Jobless Claims will see light. The Advance January Consumer Confidence Index for the Eurozone is also due.

Friday: In Japan, the preliminary Nikkei Japan Purchasing Managers’ Index will see light. Other preliminary Purchasing Managers’ Indices will also see light throughout the Eurozone, as well as in the U.S. In Canada, December’s Consumer Price Index will see light. U.S. Existing Home Sales, and December’s Leading Index will conclude the weekly reports.