TD Securities analysts are expecting the US Fed Chair Powell to use his two-day testimony before Congress to reiterate the view that the Fed will "act as appropriate to sustain the economic expansion".

“We do not anticipate the Chair will want to communicate to the market any major changes regarding the FOMC's posture put forward at the June meeting, although that is a non-zero risk. Expect Powell to once again highlight the crosscurrents that are currently threatening the US economic outlook (weak global growth, trade uncertainties) and persistent below-trend inflation and low inflation expectations.”