What to Expect This Week

This week, in the United States, the housing market will be once again in focus. Existing home sales may have picked up in March. Yet, new home sales, which haven’t been supported by tax credit, are likely to stay depressed. Moreover, durable goods orders probably little changed in March as aircraft and cars sales dropped.
TradingEconomics.com 4/17/2010 4:09:47 PM

In the Euro Area, all eyes will on Greece's interaction with the European Union and the IMF. Although, euro area finance ministers supposedly reached an agreement in a rescue package during last week, many investors are calling it bluff and still questioning Greeks ability to pay off the debt. Elsewhere, Euro Area's Purchasing Managers Index Survey (PMI) should show some gain in April.

In Japan, after climbing at the fastest pace in 30 years in February, exports are likely to grow further in March. In the United Kingdom, the preliminary estimate of first quarter GDP may show sluggish growth as bad weather in January and February slowed down the economy. In a positive note, the unemployment rate may drop to 7.7% and inflation should stay around 3%. In Canada, the Bank of Canada will leave its interest rate unchanged, but one should expect hints that point to a shift in the BoC's monetary policy. Finally, we expect India's central bank to raise its repo rate by at least by 25 basis points.