In Canada, Ivey Purchasing Managers’ Index (PMI), Monthly Survey to rate the business conditions including employment, production, new orders, prices, supplier deliveries, and inventories reduce to 58.6 from 63.5 on the last month and indicates industry expansion.

The Purchasing Managers’ indices in the UK were generally better than expected in January, and an official recession now seems less likely. However, another round of QE by the contral bank seems inevitable. Despite stronger US growth, the pound has had a spectacular run, rising over 500 pips against the dollar since mid-January.

In the US, Unemployment Rate, measures total work unemployed force (by percentage) that looking for jobs during the last month.

The dollar weakened against most major currencies following Bernanke’s announcement that  interest rates will likely remain near zero until late 2014. This was despite solid economic data coming out of the US.

In the US, Unemployment Rate, monthly report to value the all work force by percentage that is looking for jobs over the past month, rise is forecasted up by 0.1% from December up to 8.7%.

The UK economy grew by 0.6% in Q3, which was surprisingly good news. Other indicators point to a more troubling picture for 2012, such as the current deficit, which has ballooned to 15.2 billion pounds.   Recently, the British pound managed to distance itself from the debt crisis affecting Europe. The movements in GBP/USD were still correlated with those made by EUR/USD, but the euro lost much more ground against the dollar. This has resulted in a big drop in EUR/GBP that reached levels seen only at the beginning of the year.

In the US, Daniel Tarullo, Federal Reserve Governor, is about to speak in Washington DC.

The housing sector is relatively stable: this was seen in another positive Construction PMI and another rise in house prices. On the other hand, manufacturing remains sluggish. We will get the last PMI figure and more housing data this week.

In the US, Unemployment Claims measuring the number of Americans filing initial claims for unemployment increased by 2,000 last week to 393,000 while expected to drop to 389,000 indicating a relative stability in the Job market. A drop to 390,000 is expected.

In the US, Consumer Credit, value of unpaid requires payments consumers credit that over the previous month, due to rise from -9.5B on October up to 5.2B now.