The Fed is expected to leave rates unchanged at its end-of-January meeting.
Signs that it might hold rates higher for slightly longer could give a tailwind to some of the moves the rates rethink has unleashed, such as a rebound in Treasury yields and the dollar.
Markets will watch the U.S. Treasury's announcements on Monday and Wednesday.
The U.S. non-farm payrolls report is out on Friday.
The Bank of England is expected to keep rates steady on Thursday, but signal rates might not stay at their 16-year high for much longer.
The pound has done well out of expectations the BoE might move more slowly on rate cuts than the Fed.
Investors are also wary ahead of the ruling Conservatives' March budget - cutting taxes too generously could hurt sterling.
The release of China's official PMI data on Wednesday could bolster the case that some serious repair work is needed on the world's second-biggest economy.
While China narrowly surpassed last year's 5% growth target, analysts are skeptical that trend can be sustained.
PMI figures from elsewhere in the region -- South Korea, Thailand and India -- also scatter the data calendar.
Reports are due from Apple, Microsoft, Alphabet, Amazon and Meta Platforms - five of the "Magnificent Seven" stocks that helped lift the S&P 500 to a new record high in January.
Those results will be crucial in determining whether the index can maintain its momentum.
According to LSEG data, S&P 500 companies are on track to post a 4.5% rise in Q4 earnings compared to the year-ago period.
Markets are focused on whether corporate earnings will indeed be rosier in 2024.
