In the US, Unemployment Claim, weekly report to measure who filed for the first time for unemployment cover, is due to rise by 10K from 366K up to 376K

In the US, New Home Sales, monthly indicator to value the number sold households, 313K is likely with no change from the previous month.

In the US, Narayana Kocherlakota, Federal Reserve Bank of Minneapolis President, is about to speak in Minneapolis.

In Europe, Belgium National Bank of Belgium (NBB) Business Climate, Monthly Survey of around 6,000 businesses to value the level of present commercial conditions and forecast to the next 6 months, further reduce from -1.1 points on June to -2.2 points is expected this time.

Last week the adjusted trade balance showed a deficit of 191.2 billion yen in June much better than the 250.4 billion predicted by analysts and the 450 billion deficits in May. Exports dropped 1.6% on a yearly base a lot better than the 4.1% decrease predicted and the 10.3% plunge in the prior month. This is a big step forward for the Japanese economy and a firm indication of real recovery.  Will this positive shift continue?

In the US, ISM Manufacturing Index, the Institute for Supply Management is an important measurement indicator for manufacturing activity on the previous month. Is expected to be 58.8 points. Meanwhile the ISM Prices Paid that can affect the future inflation shows positive growth with 81points.

In the US, Durable Goods Orders, by the US Census Bureau that measures manufacturers’ orders price of durable goods is about to reduce by 1% while the Core Durable Goods Orders (ex-Transportation) is forecasted to reduce by 0.4% now.

The Bank of Japan kept monetary policy steady without offering near-term monetary easing is hope Japan’s economy would recover around autumn. Bank officials claim that although Japan suffers enormous damages following the earthquake, Tsunami and Nuclear crises production is progressing in a steady pace to supply overseas  growing demand bringing optimism is these hard times.

In Canada, Housing Starts, Annualized number of new residential buildings that began construction during the previous month; is about to rise by 4K. Leading indicator of economic health because building construction produces a wide-reaching ripple effect.

Bank of Japan board member Tadao Noda announced last week that Japan’s economy is beginning to emerge from a slowdown along with the recovery overseas. However in case deflation will continue the BOJ is willing to take further easing measures in order to speed the market recovery progress. Will these measures prove effective? Time will tell.