Next week we get somewhat of a reprieve from government economic data in the US. Pending home sales will be of some interest on Tuesday and retail sales of major interest on Friday.

Fed-speak is sprinkled throughout the week while ECB President Trichet is scheduled to speak at least three times next week. Expect him to keep the door open for further rate cuts ahead.

On the central bank front, the Bank of Canada and SNB meet. the BOC is expected to cut rates again by 50 bp.

Economic sentiment as measured by the ZEW survey is the European data highlight of the week on Tuesday.