In the Euro Area, flash estimates of January Purchasing Managers Index should be in focus. We are looking for small decline in services and composite PMI's and a slight increase in the manufacturing component. In Japan, the final revision of November industrial production will confirm a cyclical improvement. In the United Kingdom, inflation is likely to rise in December due to a hike in VAT tax. In Canada, the Bank of Canada meets but we don't expect any changes in the current monetary policy. In Australia, Westpac consumer confidence is expected to stay unchanged in January. In New Zealand, consumer prices might have risen slightly in the last quarter of 2009. Finally, China is likely to report double digit growth in the fourth quarter. However, inflation might have also have risen in December due to a sharp increase in food prices.