Tuesday will see the beginning of newly appointed Fed Chair Yellen’s
semi-annual monetary policy testimony before Congress. Prepared
text will be released at 1330GMT with the testimony delivered to the
House Financial Services Committee at 1500GMT, followed by a Q&A
session. Aside from Yellen’s testimony, the economic docket is rather
sparse. Other than the UK’s BRC retail monitor for January, there is
little due in Europe. In the US, the main entries of note are the NFIB
small business survey for January, the JOLTS labour market report and
wholesale inventories report for December. Separately, hawkish FOMC
voter Plosser is scheduled to make comments at 1400GMT.
