On tap for Wednesday: December......>

US DATA PREVIEW: On tap for Wednesday: December advance goods trade gap, advance

wholesale and retail inventories, factory new orders, NAR pending home sales

index for January. Fed Chair Powell, Mon/Pol and State of Economy testimony to

the House Financial Services Committee.

- Barclays on advance trade balance forecast the "goods trade deficit to have

widened to $75.5bn in December from $70.5bn previously." Barclays "expect the

deterioration in the goods trade position to be driven by a decline in exports

and as well as a healthy increase in imports reflecting solid activity in the

domestic economy."

- Nomura economists said December factory orders "will likely indicate healthy

expansion in factory activity based on the Census Bureau's advance report on

durable goods orders. That report indicated a 0.1% m-o-m increase in durable

goods orders ex-transportation."