There will be another week full of data and events. More important will be this time known events. First, learn Italian election results that may surprise a lot of case mix market. The second important event will be the semi-annual performance B. Bernanke before Congress that could be corrected in our opinion, inadequate market reaction to the disclosure of the notes from the last FOMC meeting. In the United States, will be an interesting indication of consumer confidence and durable goods orders. Expectations for orders is very pessimistic, so there is room for positive surprises. The first revision of U.S. GDP
for the fourth quarter is likely to bring a noticeable improvement, which could market a boost.At the end of the week we are two important U.S. data. First Chicago and nationwide ISM, which should confirm stable moderate economic growth and then a personal income and expenses. For personal income will be strong contraction due to extraordinary income by the end of the year, expenditures should grow steadily. In Europe we have a traditional set of indicators of confidence at the end of the month, and preliminary data on inflation. Interesting is also an indication of German retail sales. We do not expect noticeable market reaction.