Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Bank of Japan Signals Cautious Path Toward Further Rate Hikes Amid Yen Weakness 
China Holds Loan Prime Rates Steady in January as Market Expectations Align 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Fed Confirms Rate Meeting Schedule Despite Severe Winter Storm in Washington D.C. 
This week's economic data should confirm the cyclical out-performance of the US economy. Constructive US data, together with the renewed weakness in commodity prices and continued nervousness around China and Greece developments, is expected to support the greenback.
Even though recent external events could potentially delay the long-awaited normalization of monetary policy in the US, it is confident that they would prove to be way more damaging to other economies that heavily depend on raw materials or those who have had difficulties anchoring medium term inflation expectations.
"We see any sell-off in the USD as an opportunity to re-build positions, especially versus the commodity currency block (AUD, NZD, NOK and CAD) and some European currencies (EUR and CHF)", says Barclays.
On Wednesday, Fed Chair Janet Yellen will discuss the conduct of monetary policy and assess the latest economic developments in her semi-annual testimony before Congress.
"We do not anticipate any change in the Fed's rhetoric about the prospects of monetary policy and we expect Chair Yellen to continue highlighting the data- dependency of future decisions", added Barclays.
