Guide to today’s important data and events

Not many economic dockets scheduled for today, however some with high risks associated. Focus on Janet Yellen testimony.

Data released so far 

• Australia - HIA new home sales rose 6% in December compared to -2.7% drop in November.

Upcoming 

• France - Industrial output for November will be released at 7:45 GMT.
   
• Italy - Industrial output for December will be released at 9:00 GMT.
   
• UK - Industrial and manufacturing for December will be released at 9:30 GMT. NIESR GDP estimate will be released 15:00 GMT.
   
• Portugal - Portugal will announce trade balance for December and unemployment rate for fourth quarter and CPI for January.
   
• Euro Zone - European commission will release economic growth forecast at 10:00 GMT.
   
• US - MBA mortgage applications to be released at 12:00 GMT. FED chair Yellen will start testifying before congress at 15:00 GMT. Budget statement will be released at 19:00 GMT. EIA will release weekly crude oil inventory report at 15:30 GMT. FOMC member William is scheduled to speak at 18:30 GMT.
   
• New Zealand - Business PMI for January will be released at 21:30 GMT.
   
• Auctions - US will auction 10 year note at 18:00 GMT.