US: Focus on day two of Powell’s testimony – TDS

Analysts at TD Securities suggest that Fed Chairman Powell returns to capital hill for his second day of congressional testimony in front of the House Financial Services Committee and will be a key event for today’s US session.

Key Quotes

“Powell will read his opening statement at 10:00 ET, which should be a copy and paste of today's, before taking questions from lawmakers. The Fed will also release its Beige Book at 14:00 ET ahead of the August meeting. Housing starts and permits for June will round out the event calendar. The market looks for housing starts to slow 2.2% to an annualized 1.32m, while permits are seen rising 2.2% to a 1.33m pace.”