It's a light one today

Powell heads over to the Senate for the second day of his semi-annual testimony today. There were no fireworks yesterday aside from Trump's usual attacks on the Fed chair and call for lower rates.

The written portion of Powell's talk will be the same so we will look to the Q&A for anything new but it's rare for anything particularly notable on Day 2.

First we hear from the Fed's Harker at the bottom of the hour. His comments are on the economic outlook.

At 1530 GMT, the weekly US oil inventory report is due out. OPEC slashed its demand forecast by 440k bpd for Q1 and 230k bod for the year as coronavirus weighs on activity.

The lone other event to watch is a 10-year Treasury auction with the results just after 1800 GMT.