U.S. markets will be closed today in observance of MLK Day, and the rest of the week offers a bit of a respite from the recent data deluge. Fourth-quarter earnings reports will begin to garner more attention, with many financial companies releasing results this week along with tech giant Netflix. Housing reports dominate the U.S. economic calendar, starting with the NAHB Housing Index on Tuesday, followed by housing starts on Wednesday and existing sales on Thursday. Mortgage rates have reached their highest level since March 2020. Two key regional manufacturing indexes will drop: New York on Tuesday and Philadelphia two days later. Internationally, no policy changes are expected from the Bank of Japan tonight. China announces GDP, retail sales and industrial production early this week, with results expected to reveal a slowing economy. Other events of note include CPI and retail sales from the UK and Canada, economic sentiment from Germany and the Eurozone, and employment updates from Australia.