The Week Ahead

Economic data will take a backseat to Janet Yellen's semi-annual testimony in Washington which starts on Wednesday. Will she cite the strengths of the January and keep alive a rate for the March FOMC? Or will she push expectations, perhaps citing rising global risks to the economic outlook. The week's key data come at week's end with import & export prices, where yet another sweep of deflationary signals are expected, and also retail sales which are expected, outside another month of contraction for gasoline stations, to show improvement including for vehicles.