The all-important U.S. non-farm payrolls report and manufacturing surveys from China are expected to drive investor sentiment this week, while data out of Japan and India will also jockey for trader interest.
Last Friday, U.S. Federal Reserve Chair Janet Yellen upped the chances for a September rate hike and struck a more optimistic note on the economy at a much-anticipated speech at an economic symposium at Jackson Hole, Wyoming.
The U.S. likely added 180,000 jobs in August, according to the median forecast in a Thomson Reuters poll.
Shane Oliver, head of investment strategy and chief economist at AMP Capital, said in a note he expected the unemployment rate at 4.8 percent and wages to climb around 2.6 percent on-year in August.
Elsewhere, the latest update on the state of China's factory activity will be released this week, with the official manufacturing and services purchasing managers' indexes (PMIs) due on Thursday.
The PMIs measure the level of factory activity in large, mostly state-owned enterprises. Also due on the same day is the Caixin manufacturing PMI, which is a survey of small-to-medium sized private businesses.
Goldman Sachs analysts said they expect the official August manufacturing PMI to be at 49.9, unchanged from July.
"After the very slow credit and fiscal expenditure growth in July, policy support has likely normalized in August to support activity growth," the analysts said in a note. "However, regional growth could face downward pressures from G20-related shutdowns around the Hangzhou area late in August."
"With less near term worries on the radar, we think China's policy makers will seek to advocate a more medium term agenda for the global economy," said Qu. "One that features reforms to the global monetary system, greater use of green finance, and a more prominent role for infrastructure investment."
Market watchers will also keep an eye on China's financial market and the availability of cash within.
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