US: US data starts at 1200GMT with the weekly MBA Mortgage Application
Index, while data at 1500GMT includes New Home Sales, which are expected
to rise to 360,000 annual rate in January after tumbling in December.
Home sales have resumed their downward trend in recent months after
reaching the 2009 peak in July. Also at 1500GMT, likely the main event
of the session will be when Fed Chair Ben Bernanke testifies on the
semi-annual monetary policy report to Congress before the House
Financial Services Committee in Washington. Treasury Secretary Tim
Geithner testifies before the House Budget Committee on the Treasury
Department budget at the same time.