According to analysts at Deutsche Bank, Powell’s testimony before the Joint Economic Committee of Congress at 4pm GMT will garner some attention today.

“It would be a surprise if Powell deviates much from his post-FOMC press conference in which he emphasised that the easing done to date has supported the economy and helped offset some of the external risks stemming from slowing growth. Our US economists do, however, expect the Chair to stress that, given that the balance of the incoming economic data has largely held in, it would take a “material reassessment” of the outlook for the Committee to consider further rate cuts. The House Intelligence Committee will also hold its first public hearings in their impeachment inquiry of President Trump.”