Analysts at TD Securities point out that Fed Chair Powell will testify before the Senate Banking Committee at 10:00 ET following the release of the Fed's Semi-annual Monetary Policy Report last Friday and will be a key event for today’s session.
“We look for Powell to reiterate the case for gradual rate hikes and will focus on any comments on trade risks, the yield curve or operational procedures (IOER or the balance sheet).”
“On the data front, TD looks for an above-consensus 0.6% (market: 0.5%) increase in industrial production for June. Manufacturing output should post a 0.8% (market: 0.6%) increase on a rebound in auto production while unseasonably warm weather will help support utilities.”
“The NAHB Housing Market Index for July will round out the calendar and the market looks for an unchanged read of 68.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.