Among the tier-one data publications this week are fourth-quarter growth updates from the UK and Germany, but possibly the most eagerly-anticipated news is to be found amid the UK labour market figures on Wednesday.
Labour market gains and the unemployment rate, however, are the supporting cast to the wages data as investors continue to piece together the outlook for inflation in the UK.
UK average earnings
Inflation expectations have become big business in recent weeks as market players anticipate rising consumer prices and tighter monetary policy to deal with them.
Reports of raised shorting activity - positioning for asset price falls - and speculation on higher volatility have emerged during the recent equity market correction. This type of market activity has been related, by some, to expectations that inflation is on the rise.
In November, the annual rate of average earnings stood at 2.5%, unchanged from October's rate as expected. The core rate, excluding bonuses, however, rose to 2.4% from 2.3% - a sign, perhaps, that underlying wage growth is on the rise.
Expect the pound to see some support on Wednesday if either of these wage gauges increased in December - analysts expect the headline number to remain at 2.5%.
"We expect wage growth to remain unchanged, although the risks are clearly biased to the upside," says James Knightley at ING.
"A positive surprise would add further weight to the Bank of England’s argument that labour market tightness is forcing firms to increase pay to retain and attract staff."
GDP updates: UK and Germany
These are the latest updates on the fourth quarter: the UK's Office for National Statistics and Germany's Destatis compile further breakdowns of the major contributions to gross domestic product.
While no revisions are expected to the quarterly 0.5% rise and the 1.5% annual growth rate in the UK, look for contributions made by the export of goods and services and which particular sectors outperformed.
Germany's impressive 2.9% annual growth rate in the fourth quarter could yet see further improvement as Destatis examines the detail in export data and domestic demand.
Any higher revisions will underpin recent euro strength as expectations of tighter policy from the European Central Bank heighten.
German IFO and ZEW
While the GDP data examines the strength of the German economic past, ZEW and IFO sentiment data for February - published on Tuesday and Thursday respectively - deliver insight into Germany's economic present and future.
The headline ZEW economic sentiment index is expected to show a slight deterioration in confidence following the recent equity market correction - pushing the gauge down to around 16 from January's 20.4.
Similarly, the IFO measure of business confidence is expected to tick lower. The headline index is seen dipping to 117 in February from 117.6 in January.
"The Ifo index will give the first impression of how German businesses are assessing ongoing political dramas and the new coalition agreement in Germany," says Carsten Brzeski, chief economist, Germany and Austria at ING.
Both measures remain close to record highs, however, and forecast beats are not ruled out, which would lend support to the euro.
Above are Clemens Fuest (left), president of IFO and Achim Wamback, the ZEW president
US Federal Reserve policy meeting minutes
While the US economy ended 2017 on a high, some of the data emerging in the first couple of months of 2018 has been a little disappointing. However, labour markets remain tight, wage growth is improving and inflation is moving higher.
Also the sentiment surveys from purchasing managers and Fed districts continue to indicate growth.
Many have now pencilled in four rate hikes from the Fed this year - up from the three previously indicated by the US central bank.
Minutes from the February meeting of the Fed's open market committee could provide further insight into the likelihood of a rate rise in March, and whether it's to be three or four hikes this year.
If it looks like the Fed is now indicating four hikes and an earlier-than-expected first move, a resumption of the equity market sell-off could be ignited. This would provide support for dollar and yen havens.
Best of the rest
Eurozone consumer price inflation for January is published on Friday, with headline annual inflation expected to remain at December's level of 1.3%. There should be little to change the ECB's resolve to keep its policy on hold.
Among the IHS Market manufacturing reports published this week from the world's purchasing managers, the eurozone and US reports on Wednesday.
On Monday, UK house prices are under surveillance by online estate agent Rightmove.
There are some big earnings in the banking sector in the UK this week, starting with HSBC Holdings on Tuesday, then Lloyds Banking Group and Metro Bank on Wednesday, Barclays on Thursday and Royal Bank of Scotland on Friday.
In other sectors, Reckitt Benckiser reports on Monday, Barratt Developments on Wednesday, Anglo American and BAE Systems on Thursday and Pearson and William Hill on Friday.
In the US, its Home Depot and Wal-Mart on Tuesday, Wendy's on Wednesday, HP on Thursday and Huntsman on Friday.