The upcoming week is relatively light on the data side but investors will be keen to continue following Fedspeak as uncertainty over the FOMC's policy path rises. Bernanke will be speaking on Tuesday, Thursday and Friday. In other G10 economies, normal service on the political commentary front aside, CPI releases are out in the UK, Eurozone and Canada and policymakers will be looking for more clues over the impact of oil on headline and core prices.
In the UK, the budget will be announced. Although macro forecasts won't change the need for fiscal credibility will be stressed in the wake of another ratings outlook downgrade.


In Emerging Markets, policy rates are due in Columbia, Thailand, and Taiwan. Balance of payments figures are due in South Africa and Brazil. In the current risk environment widening imbalances may yet be unable to deter sustained inflows into regional markets.