US: Powell not to front-run the FOMC - TDS

Analysts at TD Securities point out that the Fed Chairman Powell will continue his semi-annual Congressional testimony with an appearance before the House Financial Services Committee at 10:00 ET and will be a key event for today’s session.

Key Quotes

“We continue to expect the Chairman not to front-run the FOMC with any significant announcements, largely maintaining the message put forward in his testimony before the Senate Banking Panel on Tuesday.”

“On the data front, the market consensus expects pending home sales to rebound 0.8% m/m in January following a sharp 2.2% decline. The release of the advanced goods trade balance for December as well as revisions to a lower-than-expected increase in durable goods orders for December will round out the data flow.”