A big week for economic data culminates on Friday with the monthly US labour market report and investors will be looking for a significant upturn after last month's disappointment.
Job creation slowed markedly in May, with just 138,000 new positions found by US workers, down from 174,000 in April and missing forecasts of a jump to 185,000.
While not soft enough to cause the Federal Reserve a rethink on its interest rate policy – the Fed raised rates by a quarter point in June to 1-1.25% – there have been a number of downward revisions in recent months' payrolls figures.
Any further cuts to previous months' data and a weak number on Friday will begin to raise concerns.
The unemployment rate fell to 4.3% in May, however, its lowest since 2001. Some economists cite survey evidence to suggest the rate will fall below 4% in the next few months.
The Fed will undoubtedly want to see some further pick up in wage growth before it feels totally at ease with its current policy settings. In May it climbed 0.3% month on month, from 0.2% in April.
Economists at Barclays expect June's payrolls to have risen 185,000, and forecasts upward revisions to May's disappointing numbers.
Historically, Barclays says, employment in May is stronger when the survey week falls in the third week of the month, as opposed to the second week – when last month's data were compiled.
Purchasing manager surveys
There's a great deal of survey data published this week, most notably purchasing manager indexes.
Sticking with the world's largest economy, the Institute for Supply Management reports on manufacturing on Monday and services on Thursday.
Manufacturing activity keeps creeping higher according to America's purchasing managers. Last month's ISM index climbed to 54.9 from 54.8 in April, with new orders and employment growth accounting for most of the growth.
Analysts expect the June reading to tick higher again, to 55. Any reading over 50 indicates an expanding economy, and June will be the 97th consecutive month of expansion.
Growth in activity in the services sector last month slowed to 56.9 from April's 57.5 as new orders and prices dipped. Employment growth continued to support the index.
Forecasts for June indicate another small dip to 56.7, but this still represents growth for the 89th straight month.
The same two surveys in the eurozone are on Monday for manufacturing and Wednesday for services.
Defying forecasts of a dip to 56.7, the manufacturing index rose to 57.3 in May from 57 in April, and this months' index is expected to remain at the May level.
The services index is also seen remaining at May's level of 54.7, but this comes after growth slowed from 56.3 in April.
Meanwhile, in the UK, construction PMI on Tuesday is expected to nudge a fraction higher from May's 56, which came as a surprise given forecasts of a slowing to 52.7.
Squeezed household budgets and delays in investment decisions led to a slowdown in services activity in May to 53.8 from 55.8 in April. Wednesday's June reading for UK services is expected to improve fractionally.
Federal Reserve FOMC minutes
Investors will focus on signals from minutes of June's open market committee meeting for any sign of concerns from the central bank over the low rate of inflation.
Janet Yellen and other Fed board members have repeatedly declared that the low level of inflation is "transitory" and have remained upbeat on the current interest rate cycle.
"Hawkish comments from Fed officials have supported expectations of further rate increases this year," says Lukman Otunuga at FXTM. "Macro-fundamentals need to display ongoing signs of stability before investors adopt a similar school of thought."
The market is still pricing in a further quarter-point increase in September to 1.25-1.5%.
The best of the rest
Factory orders from the US in May are expected to have levelled off after falling by 0.2% in April, data on Wednesday is expected to show.
On Friday, a duo of industrial data is published in the UK. Industrial production and manufacturing output are expected to continue to strengthen in May after a disappointing first quarter.
And in the US on Monday vehicle sales are expected to have advanced in June, while construction spending in May is seen improving markedly after a 1.4% decline in April.
It's a fairly quiet week for earnings, particularly given the shortened US week for the Independence Day holiday on Tuesday.
Yum Brands is the among the biggest US companies reporting interim results on Wednesday.
In the UK, Imagination Technologies reports annual earnings on Tuesday, while St Mowden Properties post interims.
On Wednesday, supermarket delivery company Ocado Group reports interim results.