This week, the United States Federal Reserve is expected to cut the Fed Funds Rate by at least 25bps even though many stock market investors hope to have 50 bps. Moreover, with building consents and new homes sales falling, fresh housing data is likely to show further deterioration of the U.S. economy. In sympathy to the US, Canada, GDP growth may show some signs of slowdown. In Europe, consumer confidence is likely to fall again and unemployment rate to increase. The only positive news for the Euro Zone might be an inevitable decrease in inflation, reflecting falling oil prices. In Japan, unemployment rate should slightly rise and consumer prices decline. Finally, New Zealand’s trade balance deficit is expected to widen, due to falling exports.