Economic calendar: ISM release in the spotlight

• January’s ISM release is a highlight of the day

• Final PMIs from Europe and US

• Alphabet (GOOGL.US) to release earnings after market closes

8:55 am GMT - Germany, manufacturing PMI for January (final). Expected: 45.2 pts

9:00 am GMT - Euro area, manufacturing PMI for January (final). Expected: 47.8 pts

9:30 am GMT - UK, manufacturing PMI for January (final). Expected: 49.8 pts

2:45 pm GMT - US, manufacturing PMI for January (final). Expected: 51.7 pts

3:00 pm GMT - US, construction spending for December. Expected: 0.5% MoM. Previous: 0.6% MoM

3:00 pm GMT - US, ISM manufacturing for January. Flash PMI release for January showed deterioration in the outlook for the US manufacturing sector. However, ISM is a more closely watched measure when it comes to the United States and it sits within the contraction territory. The index is expected to remain there in January but should jump from 47.2 to 48.5 pts.

Asian session

• 9:45 pm GMT - New Zealand, building permits for December

• 3:30 am GMT (Tuesday) - RBA rate decision

Central bankers’ speeches

• 9:15 am GMT - ECB’s Guindos

• 6:00 pm GMT - ECB President Lagarde

• 9:00 pm GMT - Fed’s Bostic

Major earnings releases

• Alphabet (GOOGL.US)