In the US, the spotlight will be taken by January jobs data, and several speeches by the Fed officials including Fed Chair Powell's 2-day testimony in Congress on the monetary policy. It is expected that non-farm payrolls likely increased by 200K in February, a sharp decline from the 353K jobs added in January. In addition, the unemployment rate probably remained unchanged at 3.7%, and monthly wage growth cooled to 0.3% from the previous period's 0.6%. Meanwhile, the ISM report for February will likely reveal the country's service sector growth was little-changed from January's four-month high, while JOLTs job openings are seen falling to 8.9 million in January after two consecutive months of increases. Other notable data to be released are: ADP employment change, factory orders, foreign trade, and the RCM/TIPP Economic Optimism Index. Elsewhere in America, the Bank of Canada is expected to leave interest rates unchanged for a fifth consecutive time amidst ongoing risks on the outlook of inflation. Canada's employment figures, trade balance, and Ivey PMI will also be in the spotlight, along with Mexico's inflation and consumer confidence and Brazil's industrial output, and foreign trade.

In Europe, the ECB is expected to keep rates unchanged after inflation exceeded expectations, reinforcing its cautious monetary policy stance. Also, the National Bank of Poland will decide on interest rates. On the economic calendar, retail sales in the Euro Area are predicted to edge up after falling the most in one year. In Germany, factory orders are expected to slump 6% but industrial production is set to recover after four months of decreases. On the contrary, France expects a drop in industrial production after two consecutive months of growth. Italy's service sector is projected to expand the most in nine months, while Spain is expected to see its service industry expand at the fastest rate in eight months. Switzerland's annual inflation rate is expected to decrease to 1.1%, the lowest since September 2021. In Turkey, consumer prices are anticipated to reach a 15-month high of 65.74%. Other data to follow includes Euro Area's final Q4 GDP data, Germany's balance of trade and producer prices; Italy's Q4 final GDP data; France's foreign trade; and Spain and Switzerland's unemployment data. In the United Kingdom, all eyes will be on Finance Minister Jeremy Hunt's pre-election budget, expected to include tax cuts to address the country's £2.5 trillion debt. Key economic releases include the BRC retail sales monitor, Halifax house prices, and final S&P PMI figures.

In China, the National People’s Congress will start on Tuesday and markets will pay close attention to announcements of fresh stimulus, measures to prompt up consumer demand, and regulatory clampdowns to prevent further selling in the country’s equity market. On the data front, the trade balance for the first two months of the year will take center stage, with both export and import growth set to show a slight uptick. Also, investors will monitor Caixin Services PMI. Japan is due to release its January current account, while a busy week for South Korea includes February’s inflation print and PMI data. Elsewhere, the Philippines will divulge February’s inflation update and January’s unemployment rate, while Malaysia will chose its new policy rate with attention to weakness in the ringgit. In Australia, the fourth-quarter GDP release will take the spotlight, with consensus estimates suggesting a steady growth rate. Investors also await the trade balance, home credit, and building permits for January.