In the US, Unemployment Claims, monthly indicator to value the unemployment insurance that was filed on the last week, is predicted to drop down from 377K to 373K this week.

In the US, The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI); Monthly Managers Survey to value the business conditions such as new orders, deliveries and inventories, rise is expected from 53.9 points on December up to 54.6 points now. And on the ISM Manufacturing Prices similar rise is forecasted from 47.5 points to 49.5 points.

Last week The Bank of Japan maintained its interest rate at 0-0.10% and did not alter its 55 trillion yen quantitative easing program announcing that Japan’s economic growth is flat amid a slowdown in foreign markets. However Retail sales climbed 2.5% better than predicted following 2.2% fall in the previous month indicating some improvement in the market. Will this week bring more encouraging news?

In the US, Treasury Currency Report issued twice a year is a globaland detailed report of rate policies in various countries around the world is expected to be released today.

Last week Japan’s central bank released its monetary policy statement announcing the continuation of the current easy monetary policy in light of the growing concerns over European debt problems and the strong yen. The BOJ decided to leave its key interest rate near zero and continue to provide liquidity to the markets through government bonds. Will the Japanese economy improve in 2012?

In the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, measures the number of employed people over the last month (without government & farming industry), rise is expected from 110K on October up to 131K.

Last week a certain setback in Japan’s ongoing recovery was felt this week with disappointing trade balance deficit of 0.46T, falling below expectations and Tokyo Core CPI decreased by 0.5% while 0.3% drop was expected. Will the European crisis and strong yen continue to cloud Japan’s recovery?

In the US, ISM Manufacturing PMI and important Manufacturing activity gauge, increased more than predicted to 51.6 in September after reaching 50.6 inAugust. A further rise to 52.3 is expected now.

Last week trade balance deficit narrowed nicely to 0.02T following 0.27T shortage  but retail sales dropped more than expected by 1.2% and household spending improved with 1.9% drop after decreasing 4.1% in August. These mixed readings reflect the concerns Japan over the global financial markets situation. Will we see an improvement following the positive EU summit in Brussels?

In the US, Ben Bernanke testifies at the Joint Economic Committee, in Washington DC. His words have a major impact on the market.