In the United States, retail sales and consumer confidence are likely to fall. Yet, PPI and CPI are also expected to decrease, easing inflation expectations and opening the door for further rate cuts. In the Euro Area, the focus will also remain on any news regarding coordinated action against the credit crisis. Moreover, the German ZEW survey for October will likely show more deterioration in investor’s sentiment. In addition, CPI for September may be confirmed at 3.6% y/y due to weakness in crude oil prices. In the United Kingdom, the unemployment rate is expected to rise and CPI and PPI to decline. In Japan, industrial production is likely to decline further. In Australia, we expect confidence indices to deteriorate and retail sales are expected to fall in New Zealand.