In the Euro Area, Bank Stress Test Results will be revealed. In addition, we are looking for a third consecutive decline in the composite Purchasing Managers Index (PMI) in July as the recovery remains weak. Consumer confidence in June may drop as well due to announcement of new fiscal austerity measures. In the United Kingdom, advance GDP estimate for the second quarter is likely to show strong growth as retail sales and industrial production numbers were strong. In Canada, the market is looking for 25 basis points rise in the overnight interest rate but Bank of Canada may decide to wait for the inflation release which is likely to show a drop in consumer prices. Finally, Brazil's Monetary Policy Committee (COPOM) may hike the SELIC rate as much as 75 basis points to cool down the economy.