Rate cuts, mostly of 50 basis points, are expected on Tuesday from the Bank of Canada to 1.75%, and on Thursday from the Swiss National Bank to 0.5%, The US reports its monthly federal budget, trade figures, import prices, retail sales, inventories, pending home sales, and the preliminary University of Michigan consumer sentiment survey results. Weekly chain store sales (because of the season) and jobless claims (because such provide very timely information on the recession) will attract considerable investor interest. From Europe, investors will see industrial production and investor sentiment. Italy releases GDP and industrial output. France also releases industrial production plus business sentiment and trade. German current account, industrial output, and ZEW index of investor sentiment arrive. Spanish CPI is due. British data are due on trade, producer prices, industrial production, house prices, and same store sales from the BRC, monthly GDP, and the quarterly survey of expected inflation.