What to Expect This Week

This week, concerns over European debt will continue to dominate global markets as the European Commission is expected to meet and discuss the condition of public finances in many member states.
TradingEconomics.com 2/6/2010 12:35:08 PM

 Elsewhere, fourth quarter Euro Area GDP flash estimate is likely to show another expansion. In the United States, Federal Reserve Chairman Ben Bernanke will testify in front of the House Financial Services Committee and investors are expecting more details on a exit strategy from quantitative easing. Also, incoming data is likely to show that retail sales recovered in January and trade deficit slightly widened in December. In Japan, current account surplus probably rose in December due to a rebound in exports. In the United Kingdom, trade deficit may shrink and industrial production increase. In Canada, trade balance is likely to stay in the negative territory. In Australia, unemployment rate is expected to rise slightly in January despite some gains in new jobs. Finally, China will release its trade, inflation and new loans figures for January. We are looking for a rise in consumer prices and exports. Yet, the new loans number should deteriorate due to monetary policy tightening.