In terms of economic releases, industrial production is likely to show some improvement, retail sales may stay unchanged and inflation is expected to lower on a yearly basis. In the Euro Area, CPI is likely to stay in deflationary territory. Also, German ZEW economic sentiment survey may show further deterioration. In Japan, the Bank of Japan will meet to decide on rates but we don’t expect any changes in the current monetary policy. In the United Kingdom, inflation may decline further and unemployment rate is expected to rise to 5%. In Canada, deflation may show up with CPI likely to drop below zero on a yearly basis. Finally, in New Zealand second-quarter inflation figures are due and we expect a significant decline from 3% recorded in the first quarter.