In the US, Personal Spending, monthly value of all consumer’s inflation-adjusted, is about to rise by 0.1% up to 0.2%. And similar rise is predicted in the Personal Income of 0.3% up to 0.4%.

Last week the Reserve Bank of New Zealand maintained its benchmark interest rate at 2.50% in light of ongoing uncertainty concerning global market conditions. Meanwhile Trade balance swung to surplus in December reaching NZ$338 million beating expectations for NZ$74 million deficit and providing positive news about the NZ economy.

In the US, Dennis Lockhart, Federal Reserve Bank of Atlanta President, is about to speak in Atlanta.

The improvement seen in the US job market began helping the US dollar against risk currencies, contrary to behavior seen beforehand. Yet this change might be temporary. The New Zealand dollar managed to make an impressive break above 0.79 and topped out at 0.7964 before new worries hit Europe.

In the US, The Conference Board (CB) Consumer Confidence, monthly survey to rate the present and upcoming financial conditions with labor availability etc., rise is expected from 39.8 on October up to 43.8 this time.

In the US, Chicago Purchasing Managers’ Index (PMI); monthly managers in Chicago survey to value the business conditions for employment, new orders etc. is due to reduce down to 59.2 points from 60.4 points.

Last week inflation figures disappointed with 0.4% rise while 0.7% increase was predicted and New Zealand Business Confidence index dropped to 26.1 from35.4 in September. These lukewarm readings left no hope for and RBNZ rate hike. However the hopeful note of the EU summit could have a positive influence in NZ economy.

In the US, Unemployment Claims, weekly measurement of the persons that filed for unemployment cover, reduces from 423K on the last week to 420K this time.

The biggest blow came from Operation Twist launched by Bernanke and the lack of QE3 in the US. Last week Current Account indicated growth in imports reaching a deficit of 0.92B and GDP growth narrowed to 0.1% following 0.9% increase in the previous month. Is the global economic situation drag down NZ economy?

In the US, Pending Home Sales, report that released monthly to measure the homes that are under contract to be sold, reductions from 2.4% on July to -0.8% this month.