With most of the second-quarter central bank meetings and bank results reporting concluded, we are looking at a relatively slow week ahead. However, markets will be watching Spanish and Italian bond yields closely, as well as any comments from ECB chief Mario Draghi, who stoked speculation that the bank many resume its bond-buying activities to lower borrowing costs.

Related News: ECB Will Do "Whatever It Takes" To Save Euro... Just Not Now

Monday, August 6

Japan marks the 67th anniversary of Hiroshima and Nagasaki, the world's first atomic bomb attack. Clifton Truman Daniel, grandson of Harry Truman, the US president who ordered the bomb attack is expected to attend the memorial ceremony.

Related News: Merkel: Europe in Worst Crisis Since WW2

Tuesday, August 7

Federal Reserve Chairman Ben Bernanke hosts a town hall meeting with educations from across the country at Board headquarters. Bernanke will respond to questions from participants in the room and via videoconference.

Wednesday, August 8

Former Prime Minister Naoto Kan speaks at Japan National Press Club on energy policy. Kan was premier when last year's triple disaster of quake, tsunami and nuclear crisis struck.

Rio Tinto reports its interim results and profits are likely to suffer the same pressures from falling commodity prices and rising costs. Rio, who is primarily in the iron ore business, will likely reveal numbers that are closely aligned to China's slowing growth and cooling industrial activity.

Related News: Lower Demand, Prices Send China's Steel Profits Tumbling 96%

Ministry of Environment and Urban Planning to hold tender to build infrastructure for planned International Financial Centre in Istanbul.

Thursday, August 9

International Day of the World's Indigenous People.

Friday, August 10

The US Treasury releases its monthly budget report and is expected to have chalked a June deficit of $59.7 billion. Receipts were up while growth in spending was down, making for a 6.8 percent decline in the nation's deficit 9 months into government's fiscal year. Looking ahead, the month of July historically shows a deficit for the month. The July 2011 deficit came in at $129.4 billion.

Related News: US Debt To Be Twice The Size Of GDP By 2037

Sunday, August 12

ote on political status of Puerto Rico. If the majority votes "yes," a second ballot on Nov. 6 would ask them to choose among three non-territorial options -- U.S. statehood, independence or sovereign free association.