Investing.com - Global financial markets will focus on Chinese trade figures due on Friday in a relatively quiet week for economic data.
Investors will also keep an eye out on a few U.S. economic reports, with Friday's consumer sentiment data in the spotlight, for further clues on the timing of the next Federal Reserve rate hike.
Meanwhile, in the euro zone, market participants will pay close attention to a report on German factory orders to gauge the health of the region's largest economy.
Traders will also be focusing on a number of central bank decisions this week, including rate reviews in Australia and New Zealand.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. China January Trade Data
China is to release January trade figures at around 03:00GMT on Friday (10:00PM ET Thursday).
The report is expected to show that the country’s trade surplus widened to $48.9 billion last month from $40.8 billion in December.
Exports are forecast to have climbed 3.0% in January from a year earlier, following a decline of 6.1% a month ago, while imports are expected to rise 9.6%, after gaining 3.1% in December.
Additionally, the Asian nation will publish the Caixin services purchasing managers index on Monday, followed by foreign reserves data on Tuesday.
China's economy grew 6.8% in the fourth quarter, boosted by higher government spending and record bank lending. But the economy still faces headwinds from a cooling housing market and possible protectionist measures from the U.S.
2. U.S. Michigan Consumer Sentiment for February
The preliminary University of Michigan February consumer sentiment index scheduled for release at 10:00AM ET (15:00GMT) on Friday is expected to inch down to 97.8 from 98.5 in January.
Besides the consumer sentiment report, this week's calendar also features U.S. data on international trade, job openings, weekly jobless claims as well as import prices.
Headlines from Washington will most likely continue to dictate market sentiment in the week ahead, as traders focus on President Donald Trump for further details on his promises of tax reform, infrastructure spending and deregulation as well as trade policies.
Earnings from the likes of Disney (NYSE:DIS), General Motors (NYSE:GM), Time Warner (NYSE:TWX), Coca-Cola (NYSE:KO) and Twitter (NYSE:TWTR) are also on the radar this week.
3. German December Factory Orders
Germany will publish data on December factory orders at 07:00GMT (2:00AM ET) Monday. The data is expected to show a gain of 0.5%, following a sharp drop of 2.5% in November.
There will also be German, French, Spanish and Italian industrial production data. All are expected to show growth, adding to evidence that the euro zone's economy is gaining momentum.
In addition, the European Commission is scheduled to publish updated economic forecasts for the region on Wednesday.
4. Reserve Bank of Australia Policy Meeting
The RBA's latest interest rate decision is due on Tuesday at 03:30GMT (10:30PM ET Monday).
Most economists expect the central bank to keep rates unchanged at the current record-low of 1.50% as it attempts to balance a heated housing market with weak wage growth and below target inflation.
On Thursday, RBA Governor Philip Lowe will speak at the A50 Australian Economic Forum Dinner, in Sydney.
Besides the RBA, retail sales figures due on Monday will also be in focus.
5. Reserve Bank of New Zealand Rate Review
The Reserve Bank of New Zealand’s monetary policy update is due at 20:00GMT (3:00PM ET) on Wednesday.
Most market analysts expect the central bank to hold its benchmark interest rate at the current all-time low of 1.75%, while signaling the next move in rates could be higher due to a recent uptick in inflation.
RBNZ Governor Wheeler will also hold a press conference following the decision.
Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/