The Week Ahead: Тhings to Watch on the Economic Calendar

The Federal Reserve could rival the White House as a source of volatility in the week ahead, as U.S. central bank chief Janet Yellen testifies before Senate and House committees on the economy and monetary policy.
Investors will also keep an eye out on a few U.S. economic reports, with Wednesday's inflation and retail sales data in the spotlight, for further clues on the timing of the next Fed rate hike.
Meanwhile, in the U.K., market participants will be looking ahead to reports on consumer prices, employment and retail sales for further indications on the continued effect that the Brexit decision is having on the economy.
Elsewhere, Germany is to publish preliminary data on fourth-quarter economic growth on Tuesday for further hints on the strength of the euro zone's economy.
1.Fed Chair Yellen Testifies - Tuesday
Federal Reserve Chair Janet Yellen is set to deliver her semi-annual monetary policy testimony on the economy before Senate and House committees in Washington DC.
Yellen is scheduled to testify on the economy before the Senate Banking Committee at 10:00AM ET (15:00GMT) Tuesday. On Wednesday, she will appear in front the House Financial Services Committee also at 10AM ET.
Her comments will be monitored closely for any new insight on policy and the timing of when it might raise interest rates.
2.German, Euro Zone Q4 GDP - Tuesday
Germany will publish a preliminary report on fourth-quarter economic growth at 07:00GMT (2:00AM ET) on Tuesday. The euro zone's largest economy is forecast to expand 0.5% in the October-December period, compared to growth of 0.2% in the preceding quarter.
3.U.K. CPI, Employment & Retail Sales - Tuesday
The U.K. Office for National Statistics will release data on consumer price inflation for January at 09:30GMT (4:30AM ET) on Tuesday. Analysts expect consumer prices to rise 1.9%, after increasing 1.6% a month earlier.
4.U.S January Inflation & Retail Sales - Wednesday
The Commerce Department will publish January inflation figures at 8:30AM ET (13:30GMT) Wednesday. Market analysts expect consumer prices to ease up 0.3%, while core inflation is forecast to increase 0.2%.

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