U.S. data releases are unlikely to have a major impact during the coming week, with expectations of another very robust reading for Tuesday's consumer confidence release. The most important releases will be on Thursday, with the latest jobless claims and Chicago PMI data giving fresh insight on underlying trends. The core PCE prices index will also be watched closely given the ongoing focus on inflation trends. The data have been in line with consensus expectations over the past few months, limiting the impact, but an erratic reading would trigger a jolt to markets.

There will be no major data releases both from Australia and USA tomorrow so we can expect less volatile session.