Homebuilder confidence has unexpectedly seen a modest deterioration in the month of February, according to a report released by the National Association of Home Builders on Tuesday. The report said the NAHB/Wells Fargo Housing Market Index edged down to 36 in February after slipping to 37 in January. Economists had expected the index to inch up to 38.

The Federal Reserve Bank of New York released a report on Tuesday showing a modest increase in regional manufacturing activity in the month of February. The New York Fed said its general business conditions index edged down to 7.1 in February from 7.7 in January, but a positive reading still indicates growth. Economists had expected the index to dip to 6.0.

The UK unemployment rate reached a near five-year high and wage growth softened in the fourth quarter, strengthening the case for the Bank of England to cut interest rates in March. The unemployment rate rose to 5.2 percent in the three months to December from 5.1 percent in the preceding period, the Office for National Statistics reported Tuesday.

German economic confidence weakened unexpectedly in February after a strong rebound at the start of the year, the financial market survey conducted by the think tank ZEW showed Tuesday. The ZEW indicator of economic sentiment dropped to 58.3 in February from 59.6 in January, which was the highest since July 2021. The score was forecast to rise further to 65.2.

The U.S. dollar declined against major currencies during the week ended February 13 amidst a softening in consumer price inflation that renewed expectations of monetary easing by the Federal Reserve.

Economic sentiment and final inflation from Germany and labor market statistics from the UK are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK labor market data. The jobless rate is seen at 5.2 percent in the three months to December, up from 5.1 percent in the preceding period.

Switzerland's economy returned to growth in the fourth quarter, with the service sector expanding despite flat industrial output, the flash estimate from the State Secretariat for Economic Affairs, or SECO, showed on Monday. Gross domestic product expanded 0.2 percent on a quarterly basis, in contrast to the 0.5 percent contraction in the third quarter.

The British pound strengthened against other major currencies in the European session on Monday, as investors await the release of the U.K.'s inflation and employment figures on Tuesday and Wednesday, respectively.

Eurozone industrial production declined for the first time in four months in December, according to data from Eurostat released on Monday. Industrial production logged a monthly fall of 1.4 percent in December, in contrast to the 0.3 percent increase seen in November. This was the first decline since August.

The Japanese yen weakened against other major currencies in the European session on Monday.

Industrial production from the euro area is the top economic news due on Monday, headlining a light day for the European economic news. At 2.00 am ET, Statistics Norway publishes foreign trade data for January. In the meantime, consumer prices from Romania and unemployment from Sweden are due.

Thailand's economic growth accelerated more than expected in the fourth quarter on strong domestic demand, official data revealed Monday. The annual growth in gross domestic product more than doubled to 2.5 percent in the fourth quarter from 1.2 percent in third quarter, the National Economic and Social Development Council reported. Economists had forecast the rate to ease to 1.0 percent.

The Labor Department released a highly anticipated report on Friday showing consumer prices in the U.S. increased by slightly less than expected in the month of January. The report said the consumer price index rose by 0.2 percent in January after climbing by 0.3 percent in December. Economists had expected prices to rise by another 0.3 percent.

The U.S. dollar strengthened against other major currencies in the Asian session on Friday, as traders are anticipating the U.S Consumer Price Index (CPI) inflation numbers later on the day.

Malaysia's economy grew more than initially estimated in the fourth quarter, reaching the strongest in three years, fueled by robust private consumption and investment, official data revealed Friday. Gross domestic product posted an annual growth of 6.3 percent in the fourth quarter, the strongest since the fourth quarter of 2022, the Department of Statistics said.

Flash quarterly national accounts and employment from the euro area and monetary policy decision from Russia are due on Friday. At 2.00 am ET, Destatis is scheduled to release Germany's wholesale price data. Economists forecast wholesale prices to rise 0.1 percent on a monthly basis in January, reversing a 0.2 percent fall in December.

After reporting a sharp increase in U.S. existing home sales in the previous month, the National Association of Realtors released a report on Thursday showing existing home sales pulled back by much more than expected in the month of January. NAR said existing home sales plunged by 8.4 percent to an annual rate of 3.91 million in January.

The Labor Department released a report on Thursday showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended February 7th. The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous week's revised level of 232,000. Economists had expected jobless claims to fall to 220,000.

The UK economy expanded only marginally in the fourth quarter as tax hike concerns ahead of the Autumn Budget dampened activity, data from the Office for National Statistics revealed on Thursday. Gross domestic product grew 0.1 percent on a quarterly basis, the same slow pace of increase as seen in the third quarter. Moreover, this was slightly weaker than the forecast of 0.2 percent.

The Japanese yen strengthened against other major currencies in the Asian session on Thursday, following Tokyo's continued intervention threats.

Quarterly national accounts and foreign trade reports from the UK are the top economic news due on Thursday. At 1.00 am ET, current account figures are due from Finland. At 2.00 am ET, the Office for National Statistics releases UK GDP data for the fourth quarter. The economy is forecast to grow 0.2 percent after rising 0.1 percent a quarter ago.

A closely watched report released by the Labor Department on Wednesday showed employment in the U.S. increased by much more than expected in the month of January. The Labor Department said non-farm payroll employment jumped by 130,000 jobs in January after rising by a downwardly revised 48,000 jobs in December. Economists had expected employment to climb by 70,000 jobs.

The Japanese yen strengthened against other major currencies in the Asian session on Wednesday, following Prime Minister Sanae Takaichi's overwhelming election victory and foreign inflows into Japanese stocks have raised demand for the Japanese yen (JPY).

China inflation softened in January due to Lunar New Year holiday effects, while producer price deflation softened, official data revealed Wednesday. Consumer price inflation weakened to 0.2 percent in January from 0.8 percent in December, the National Bureau of Statistics reported. Inflation was seen at 0.4 percent. On a monthly basis, consumer prices gained 0.2 percent.

Business inventories in the U.S. crept up by slightly less than expected in the month of November, according to a report released by the Commerce Department on Tuesday. The Commerce Department said business inventories inched up by 0.1 percent in November after growing by a downwardly revised 0.2 percent in October.