The Bank of Japan kept rates steady at 0.5%, just as expected, as growth level is expected to be slightly lower than was expected at 1.5-2.0%, while expectations for a rate cut in July is increasing, as the Japanese economists see it as the best way to stimulate growth levels all over again.

The Bank of Canada is expected to go along with its U.S. mate in their easing policy, it is widely expected that the Bank of Canada will cut rates from 4.25% to 4.00%, that dovish stand from the BoC is largely attributed to the global economic slow down, and it is more of a conservative move to be ready to fight the recession monster.

Eventually, going to New Zealand, where they are still expected to leave rates steady as one of the highest yielder's in the world, the benchmark interest rate in New Zealand is at 8.25%, and is expected to remain that way, as we can see that the economy is still solid, based on commodities improvement.

That’s all dear reader; the main highlight is still the U.S. Housing Data in the U.S. markets, and the preparation for next week's GDP and FOMC decision, so lets hold on and take it slowly till the bigger things happens.