In the US, Crude Oil Inventories, the number of crude oil barrels in inventory over the last week, is about to remain 4.2M similar to the last week’s report.

On one hand, the positive US data pushed the pair higher, but these rises were limited by the ongoing flow of bad news from Europe, which triggered safe haven flows. Dollar/yen remains in range and ignores the European drama for now. It trades under 77.

Last week some encouraging figures were released with a 1.9% gain in Retail sales above the 0.7% increase expected and 2.4% gain in Prelim Industrial Production. Well above the 1.1% rise predicted furthermore Average Cash Earnings increased by 0.1% while expected to remain flat. Will this positive trend continue?

In the US, Ben Bernanke, Federal Reserve Chairman, is due to lecture in Washington DC

Last week BOJ Governor Masaaki Shirakawa spoke about the necessity of world leaders to prevent EU debt crisis from generating another global recession and ensure market stability. Shirakawa was criticized in the meeting in Osaka for failing to lower the surging yen hindering Japan’s recovery. Will Japan succeed to depreciate the yen?

In the US, Investor’s Business Daily (IBD) Techno Metrica Institute of Policy and Politics (TIPP), Economic Optimism, Survey  (900 consumers) to rate the financial conditions economic outlook for the 6-month, a rise from 39.9 points on September to 43.2 points now is forecasted.

Last week readings showed improvement in household spending, Average cash earnings, total domestic currency in circulation and housing starts. However retail sales gained 0.7% less than the 1.1% rise predicted, and preliminary industrial production increased by 0.6%, below the 1.6% expected. Nevertheless these figures show a clear trend of recovery at a moderate pace.

In Europe, Sentix Investor Confidence, leading survey of around 2,800 investors and experts to value the  financial outlook on the past 6-month, due to reduce from 5.3 points to 3.6 points.

Last week the BOJ held its monetary policy meeting where further asset purchase programs and lending facilities were agreed on.  Furthermore the BOJ Japan sold yen in the market trying to curb the strength of its currency and lifting the USD/JPY pair. Will this monetary policy boost the Japanese market recovery?

In the US, Unemployment Rate, measurement to value the unemployed work force in percentage that is  all work force that is Percentage of the total work force that is unemployed and actively looking for jobs on the passing month, is about to remain 9.1% similar to the previous month.