The spotlight in Asia-Pacific this week will fall on Japan, with the country's central bank due to hold its first monetary policy meeting since the April consumption tax hike.
Investors will also get a health-check on China's economy, with the release of manufacturing data for April.
The Bank of Japan is widely expected to keep its monetary policy steady on Wednesday. "It's too early to expect further easing from the Bank of Japan Wednesday as not enough data has been seen post the sales tax hike, but it is likely to signal that it stands ready to act if needed," said Shane Oliver, head of investment strategy and chief economist at AMP Capital.
Japanese industrial production (Wednesday), household spending and employment data (Friday) for March will be a bit dated given the consumption tax hike on April 1.
Economists expect the central bank will step up monetary stimulus in the second half of the year to offset the negative drag on the economy from the tax increase.
The BOJ has stood pat on policy since delivering unprecedented stimulus in April last year, pledging to double base money via aggressive asset purchases to accelerate consumer inflation to 2 percent in roughly two years.