Switzerland's annual consumer inflation is forecast at 2.8 percent for January, unchanged from December. On the month, the CPI is seen up 0.6 percent after dipping 0.2 percent the previous month.

The US data calendar is thin on Monday.

Japan's gross domestic product for the October-December quarter is forecast to post a solid 0.5 percent rebound on quarter, or an annualized 1.9 percent rise. The forecasts ranged from 0.2 percent to 0.7 percent, or 0.7 percent to 3.0 percent annualized. Eased Covid rules and travel subsidies likely supported consumption, up 0.5% versus a slight 0.1% gain in the prior quarter, while net exports are seen pushing up the total output by 0.4 percentage point, after a one-time surge in service imports led external demand to make a negative 0.6-point contribution, causing an unexpected 0.2 percent contraction (annualized 0.8 percent) in the July-September GDP.

Capital investment is expected to show a 0.3 percent pullback after a strong 1.5 percent gain and public works spending is also seen down 0.9 percent after a 0.9 percent rise. Lower private inventories is seen trimming fourth-quarter GDP growth by 0.2 percentage point after adding 0.1 point in the third quarter.

National Australia Bank will release its monthly business survey for January at 7:30 pm. EST (0030 GMT Tuesday). The business conditions index fell 8 points to 12 in December for a third straight decline.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.