In the US, Ben Bernanke, Federal Reserve Chairman, is about to speak in Orlando

 Last week excellent NFP figures were released with a 243,000 job gain and unemployment rate dropping to 8.3% in January from 8.5 in December. Both figures bit expectations leaving a lower chance for QE3. Will we see further improvement this year?

In the US, Trade Balance, value the imported and exported goods over the last month, is expected to further reduce from-43.5B on December down to -44.8B now.

Last week weekly jobless claims dropped to 372K continuing the recovery process in the labor market after 387K claims in the prior week. ADP Non-Farm Payrolls also surprised with a gain of 325K jobs in the private sector, much better than the 176K predicted. These wonderful readings led to the grand finale event, the Non-Farm Payrolls, surging higher than expected with an addition of 200,000 and another drop in the unemployment rate. These positive figures raise expectations for a stronger job market in 2012.

In the US, Trade Balance, value the difference between exported and imported goods and services on the past month, expected to further reduce from -43.1B on November down to -43.5B now.

Non-Farm Payrolls came out as expected, but the surprising drop in the unemployment rate provided a lot of hope. Also CB Consumer Confidence exceeded expectations with more than 15 point rise reaching 56.0 following months of decline. Can the US economy lead the world once again? There are doubts. Let’s Start

In the US, Prelim University of Michigan (UoM) Consumer Sentiment, monthly survey to value the present and upcoming financial conditions, rise of 0.2 points is expected this month up to 61.1 points.

Last week, 80K jobs were added in the US. Although it was a bit under expectations, the drop in the unemployment rate and upwards revisions of previous data offered  some hope. In Europe, the new president of the ECB decided to cut the rates by 0.25% in his first ECB meeting causing European markets to surge. However the political chaos in Greece over the EU bailout proposal keeps everyone edgy. Will Greece accept the bailout deal or quit the euro?

 Group of Twenty (G20) Meetings (Day 1) influent the worldwide policy-making body that is operating at the maximum level and can affect the money markets.

Last week Ben Bernanke testified before the Joint Economic Committee in Washington saying that monetary policy is not a panacea for the problems currently faced by the U.S. economy, pointing a finger at the US Government to do its share in promoting a healthy recovery in the market by boosting labor markets, taxation and other regulations.  Will the Government cooperate with the Fed to bail out the US economy from a near recession? The recent Non-Farm Payrolls report was positive for a change.