In the United States a heavy data week is scheduled with Retails Sales and PPI heading the week. Undoubtedly CPI figures on Wednesday will be key for any further hints of rate movements at the end of the month. Thursday’s release of the Housing starts and Philly Fed will be supported by Speeches from a number of fed officials including Bernanke, in which it is assumed that the economic outlook will be of focus.

In the Eurozone the German ZEW survey is out on Tuesday, whilst CPI data will be published on Wednesday. Not to be outdone, ECB’s Trichet and Almunia are scheduled to attend a Euro conference in Cyprus on Thursday. In the UK, house prices are released on Tuesday, along with CPI figures Unemployment Wednesday and Retail Sales on Friday.

Japanese markets reopen on Tuesday with the release of Balance of Payments and Machine Orders due. While in Australia the Unemployment Rate figures will be released on Thursday before RBA Stevens is scheduled to speak in London on Friday. The New Zealand CPI is due on Wednesday and Retail Sales on Thursday.