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The Week Ahead Thumbnail

The Week Ahead

After last week’s huge move in rates, focus will shift to several key events this week. First, on Tuesday Fed Chair Powell will testify for the Senate Banking Committee and will surely be grilled on policy after last week’s developments. Next, U.S. inflation data mid-week is expected to show slight easing MoM, but the core rates will be closely inspected for any increases. Keep an eye on the U.S. dollar’s reaction, as the greenback has been holding up but trending sideways for the past 7 weeks. Treasury auctions may add some volatility to the mix given the market’s current sensitivity to rate movements. The end of the week will bring December’s retail sales with the holiday spending numbers. On the international calendar, China will release its inflation data late Tuesday, where the waning power crisis is expected to cool consumer and producer prices, and trade data drops late Wednesday. The Eurozone schedule will feature industrial production numbers, while the UK delivers a monthly GDP update that is not expected to steer the Bank of England off course from raising rates again next month