Key Events This Week:

Data: US April NY Fed 1-yr inflation expectations, Japan April M2, M3, Germany March current account balance, Canada March building permits
Central banks: Fed's Mester and Jefferson speak
Earnings: SoftBank, Tencent Music, Petrobras

Data: US April PPI, NFIB small business optimism, UK Q1 output per hour, March weekly earnings, employment change, April jobless claims change, Japan April PPI, machine tool orders, Germany and Eurozone May Zew survey
Central banks: Fed's Powell speaks, ECB's Knot speaks, BoE's Pill speaks
Earnings: Alibaba, Tencent, Rheinmetall, Home Depot, Vodafone, Sony, Bayer

Data: US April CPI, retail sales, May NAHB housing market index, Empire manufacturing index, March total net TIC flows, business inventories, Italy March general government debt, Eurozone Q1 GDP, employment, March industrial production, Canada March manufacturing sales, April housing starts, existing  home sales, Sweden April CPI
Central banks: Fed's Kashkari speaks, ECB's Villeroy speaks, China 1-yr MLF rate
Earnings: Cisco, Allianz, Burberry, RWE

Data: US April industrial production, import and export price indices, housing starts, capacity utilization, building permits, May Philadelphia Fed business outlook, New York Fed services business activity, initial jobless claims, Japan Q1 GDP, March capacity utilization, Italy March trade balance, Norway Q1 GDP
Central banks: Fed's Harker, Bostic and Mester speak, ECB's financial stability review, Panetta, De Cos, Nagel and Villeroy speak, BoE's Greene speaks
Earnings: Walmart, Baidu, JD.com, Applied Materials, Deere, Siemens, Take-Two, Deutsche Telekom, BT

Data: US April leading index, China April retail sales, industrial production, new home prices, property investment, France Q1 ilo unemployment rate, Canada March international securities transactions
Central banks: ECB's Vasle, Guindos, Vujcic, Holzmann and Kazaks speak, BoE's Mann speaks